{"id":10597,"date":"2021-05-28T09:26:24","date_gmt":"2021-05-28T07:26:24","guid":{"rendered":"https:\/\/www.wendelgroup.com\/companies\/stahl\/"},"modified":"2026-04-03T10:35:58","modified_gmt":"2026-04-03T08:35:58","slug":"stahl","status":"publish","type":"page","link":"https:\/\/www.wendelgroup.com\/en\/activities\/stahl\/","title":{"rendered":"Stahl"},"content":{"rendered":"<div\n    data-observer=\"item\"\n    data-animation-type=\"fade\"\n    class=\"module module-cover \"\n>\n        <div class=\"module-content\">\n        <div class=\"background\">\n            <img decoding=\"async\"\n                src=\"https:\/\/www.wendelgroup.com\/wp-content\/uploads\/2025\/04\/stahsite-scaled.jpg\"\n                alt=\"Slider_stahl\"\n            \/>\n        <\/div>\n                    <div class=\"metas\">\n                                    <div class=\"cover-logo\">\n                        <img decoding=\"async\"\n                            src=\"https:\/\/www.wendelgroup.com\/wp-content\/uploads\/2024\/01\/logo-white.png\"\n                            alt=\"logo_white\"\n                        \/>\n                    <\/div>\n                                            <\/div>\n                <div class=\"grid\">\n            <div class=\"row r-1\">\n                <div class=\"column-10\">\n                    <div class=\"title\">\n                        <h1>Stahl<\/h1>\n                                            <\/div>\n                <\/div>\n            <\/div>\n        <\/div>\n    <\/div>\n<\/div>\n\n\n<div\n    data-observer=\"item\"\n    data-animation-type=\"fade\"\n    class=\"module module-title-text with-margin-top- no-padding- add-bottom-padding-\"\n>\n        <div class=\"module-content\">\n        <div class=\"grid\">\n            <div class=\"row r-1\">\n                <div class=\"column-4 title\">\n                    <h2>Stahl is the global leader in specialty formulations for coatings for flexible substrates<\/h2>\n                                            <div class=\"button download-button blue img\">\n        <a href=\"https:\/\/cms.stahl.com\/assets\/stahl-esg-report-2024.pdf?_gl=1*1d9j4zd*_gcl_au*MjAxMzAzMTQ1Ni4xNzQzNTgyNDEz*_ga*NTQ3MjYxOTY3LjE3NDM1ODI0MTM.*_ga_HW3RH5GVD5*MTc0NDM1ODgzMy44LjEuMTc0NDM2NjE4OS42MC4wLjY0NTM5Nzc2Mg..\" target=\"_blank\">\n                <svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" viewBox=\"0 0 18 18\">\n    <path\n        d=\"M18 17.502H0v-1.5h18v1.5zm-1.297-9.147L9.1 15.956 1.5 8.355l1.06-1.06L8.24 12.97V.98h1.5v12.217l5.903-5.903 1.06 1.061z\"\n    \/>\n<\/svg>\n        <span class=\"text\">Stahl ESG Report 2024<\/span>\n                    <\/a>\n    <\/div>                    \n                    <div class=\"metas\">\n                        <div class=\"metas__title\">\n                                                            Read more\n                                                    <\/div>\n                        <div class=\"metas__urls\">\n                            <ul>\n                                                                    <li class=\"web\">\n                                        <a\n                                            href=\"https:\/\/www.stahl.com\/\"\n                                            target=\"_blank\"\n                                            rel=\"noopener\"\n                                        >\n                                            <svg\n                                                xmlns=\"http:\/\/www.w3.org\/2000\/svg\"\n                                                viewBox=\"0 0 19 18\"\n                                            >\n                                                <path\n                                                    d=\"M.912 3.287h8.915v1.5H2.412V16.25h11.675V9.075h1.5v8.675H.912V3.287zM8.155.125h10.75v10.75h-1.5V2.428L8.58 11.253l-1.06-1.06 8.566-8.568h-7.93v-1.5z\"\n                                                \/>\n                                            <\/svg>\n                                            <span class=\"text\">\n                                                                                                    Website\n                                                                                            <\/span>\n                                        <\/a>\n                                    <\/li>\n                                                                                                    <li class=\"linkedin\">\n                                        <a\n                                            href=\"https:\/\/www.linkedin.com\/company\/stahl\/\"\n                                            target=\"_blank\"\n                                            rel=\"noopener\"\n                                        >\n                                            <svg\n                                                xmlns=\"http:\/\/www.w3.org\/2000\/svg\"\n                                                viewBox=\"0 0 20 20\"\n                                            >\n                                                <path\n                                                    fill-rule=\"evenodd\"\n                                                    d=\"M15.134 6.111C17.86 6.111 20 8.09 20 12.351V20h-4.348v-7.119c0-1.863-.68-3.135-2.175-3.135-1.144 0-1.78.858-2.076 1.686-.111.297-.094.71-.094 1.124V20H7V19.828c.004-.868.02-4.865.024-8.314v-2.21C7.022 7.748 7.015 6.56 7 6.244h4.307v2.159c.254-.945 1.63-2.292 3.827-2.292zM4.5 6.667V20h-4V6.667h4zM2.264 0C3.632 0 4.474.956 4.5 2.22c0 1.242-.868 2.224-2.261 2.224h-.027C.87 4.444 0 3.465 0 2.224 0 .959.896 0 2.264 0z\"\n                                                \/>\n                                            <\/svg>\n                                        <\/a>\n                                    <\/li>\n                                                                                                    <li class=\"twitter\">\n                                        <a\n                                            href=\"https:\/\/twitter.com\/StahlHolding\"\n                                            target=\"_blank\"\n                                            rel=\"noopener\"\n                                        >\n                                            <svg\n                                                xmlns=\"http:\/\/www.w3.org\/2000\/svg\"\n                                                viewBox=\"0 0 20 16\"\n                                            >\n                                                <path\n                                                    fill-rule=\"evenodd\"\n                                                    d=\"M19.448.296a8.269 8.269 0 01-2.607.978A4.124 4.124 0 0013.846 0c-2.264 0-4.102 1.809-4.102 4.04 0 .316.036.623.106.919A11.706 11.706 0 011.392.737 3.985 3.985 0 00.837 2.77c0 1.4.724 2.637 1.826 3.362a4.155 4.155 0 01-1.86-.504v.05c0 1.957 1.414 3.59 3.293 3.96a4.16 4.16 0 01-1.854.07 4.097 4.097 0 003.833 2.805 8.314 8.314 0 01-5.096 1.73A8.56 8.56 0 010 14.186 11.764 11.764 0 006.29 16c7.548 0 11.674-6.154 11.674-11.492 0-.176-.003-.351-.01-.523A8.227 8.227 0 0020 1.895a8.296 8.296 0 01-2.356.635A4.06 4.06 0 0019.448.296\"\n                                                \/>\n                                            <\/svg>\n                                        <\/a>\n                                    <\/li>\n                                                            <\/ul>\n                        <\/div>\n                    <\/div>\n                <\/div>\n                <div class=\"column-4 content\">\n                                                                <div class=\"ets_data\">\n                            <div class=\"ets_data__legend\">\n                                CAPITAL HELD BY WENDEL\n                            <\/div>\n                            <div class=\"ets_metas\">\n                                <div class=\"ets_data__value\">\n                                    68.5\n                                <\/div>\n                                <div class=\"ets_data__indice\">\n                                    %\u00b9\n                                <\/div>\n                            <\/div>\n                        <\/div>\n                                            <div class=\"ets_data\">\n                            <div class=\"ets_data__legend\">\n                                AMOUNT INVESTED BY WENDEL\n                            <\/div>\n                            <div class=\"ets_metas\">\n                                <div class=\"ets_data__value\">\n                                    \u20ac225\n                                <\/div>\n                                <div class=\"ets_data__indice\">\n                                    m\u00b2\n                                <\/div>\n                            <\/div>\n                        <\/div>\n                                            <div class=\"ets_data\">\n                            <div class=\"ets_data__legend\">\n                                YEAR OF ACQUISITION\n                            <\/div>\n                            <div class=\"ets_metas\">\n                                <div class=\"ets_data__value\">\n                                    2006\n                                <\/div>\n                                <div class=\"ets_data__indice\">\n                                    \n                                <\/div>\n                            <\/div>\n                        <\/div>\n                                        <div class=\"text-content\">\n                        <p>Stahl is the global leader in specialty formulations for coatings for flexible substrates. Stahl\u2019s performance coatings are found in everyday materials in the automotive, apparel, luxury goods, footwear, packaging, and the home furnishing industry, amongst others.<\/p>\n<h6><sup>(1)<\/sup> Share of equity owned by Wendel as of December 31, 2024.<span style=\"font-size: 8pt;\"><br \/>\n<\/span><span style=\"font-size: 8pt;\"><sup>(2) <\/sup><\/span>Amount of equity invested by Wendel as of December 31, 2024, for the stake held at that date.In the meantime \u20ac427 million has been paid to Wendel in dividends and loan repayments.<\/h6>\n\n                    <\/div>\n                <\/div>\n            <\/div>\n        <\/div>\n    <\/div>\n<\/div>\n\n\n<div\n    data-observer=\"item\"\n    data-animation-type=\"fade\"\n    class=\"module module-key-numbers with-margin-top- no-padding- add-bottom-padding-1\"\n>\n        <div class=\"partial title \">\n        <div class=\"grid\">\n            <div class=\"row\">\n                <div class=\"column-11\">\n                    <span class=\"line\"><\/span>\n                    <span class=\"text\">Key figures<\/span>\n                <\/div>\n            <\/div>\n        <\/div>\n    <\/div>\n    <div class=\"module-content\">\n        <div class=\"grid\">\n            <div class=\"row r-1\">\n                <div class=\"column-12 length-4\">\n                                            <div\n                            class=\"key-item k-1 bg-white\"\n                        >\n                            <div class=\"key-item__icon\">\n                                <img decoding=\"async\"\n                                    src=\"https:\/\/www.wendelgroup.com\/wp-content\/uploads\/2021\/05\/icon.png\"\n                                    alt=\"icon\"\n                                \/>\n                            <\/div>\n                                                            <div class=\"key-item__number\">\n                                    <span class=\"value\">\u20ac930.2<\/span>\n                                    <span class=\"indice\">m<\/span>\n                                <\/div>\n                                <div class=\"key-item__legend\">\n                                    2024 sales\n                                <\/div>\n                                                    <\/div>\n                                            <div\n                            class=\"key-item k-2 bg-white\"\n                        >\n                            <div class=\"key-item__icon\">\n                                <img decoding=\"async\"\n                                    src=\"https:\/\/www.wendelgroup.com\/wp-content\/uploads\/2021\/06\/societes-2.png\"\n                                    alt=\"societes-2\"\n                                \/>\n                            <\/div>\n                                                            <div class=\"key-item__number\">\n                                    <span class=\"value\">27<\/span>\n                                    <span class=\"indice\"><\/span>\n                                <\/div>\n                                <div class=\"key-item__legend\">\n                                    application laboratories and 14 production sites\n                                <\/div>\n                                                    <\/div>\n                                            <div\n                            class=\"key-item k-3 bg-white\"\n                        >\n                            <div class=\"key-item__icon\">\n                                <img decoding=\"async\"\n                                    src=\"https:\/\/www.wendelgroup.com\/wp-content\/uploads\/2021\/06\/suite-pictos-bonhommes-2-e1646934217835.png\"\n                                    alt=\"suite-pictos-bonhommes-2\"\n                                \/>\n                            <\/div>\n                                                            <div class=\"key-item__number\">\n                                    <span class=\"value\">c. 1,700<\/span>\n                                    <span class=\"indice\"><\/span>\n                                <\/div>\n                                <div class=\"key-item__legend\">\n                                    employees including 26 % of women in management positions in 2024\n                                <\/div>\n                                                    <\/div>\n                                            <div\n                            class=\"key-item k-4 bg-green\"\n                        >\n                            <div class=\"key-item__icon\">\n                                <img decoding=\"async\"\n                                    src=\"https:\/\/www.wendelgroup.com\/wp-content\/uploads\/2021\/06\/performance-esg-4.png\"\n                                    alt=\"performance-esg-4\"\n                                \/>\n                            <\/div>\n                                                            <div class=\"key-item__content\">\n                                    <h3>ESG Ratings<\/h3>\n<p><strong>Ecovadis<\/strong> : Platinum<\/p>\n\n                                <\/div>\n                                                    <\/div>\n                                    <\/div>\n            <\/div>\n        <\/div>\n    <\/div>\n<\/div>\n\n\n<div data-observer=\"item\" data-animation-type=\"fade\" class=\"module module-timeline blue with-margin-top- no-padding- add-bottom-padding-\" data-module-timeline>\n    <div class=\"module-background-color\"><\/div>\n        <div class=\"module-content\">\n        <div class=\"grid\">\n            <div class=\"row r-1\">\n                <div class=\"column-5\">\n                    <h2>Key milestones of the investment<\/h2>\n                                                        <\/div>\n                <div class=\"column-2\">\n                    <div class=\"button-prev\" data-timeline=\"prev\"><svg\n    class=\"select-down-icon\"\n    xmlns=\"http:\/\/www.w3.org\/2000\/svg\"\n    viewBox=\"0 0 14 9\"\n>\n    <path\n        fill=\"none\"\n        stroke-linecap=\"round\"\n        stroke-linejoin=\"round\"\n        stroke-width=\"1.5\"\n        d=\"M.928 1.542l5.981 5.981 5.98-5.981\"\n    \/>\n<\/svg>\n<\/div>\n                    <div class=\"swiper-container\" data-timeline=\"swiper\">\n                        <div class=\"swiper-wrapper\">\n                                                            <div class=\"swiper-slide active\" data-timeline=\"item\" data-content-id=\"0\">2026<\/div>\n                                                            <div class=\"swiper-slide \" data-timeline=\"item\" data-content-id=\"1\">2026<\/div>\n                                                            <div class=\"swiper-slide \" data-timeline=\"item\" data-content-id=\"2\">2021<\/div>\n                                                            <div class=\"swiper-slide \" data-timeline=\"item\" data-content-id=\"3\">2019<\/div>\n                                                            <div class=\"swiper-slide \" data-timeline=\"item\" data-content-id=\"4\">2017<\/div>\n                                                            <div class=\"swiper-slide \" data-timeline=\"item\" data-content-id=\"5\">2016<\/div>\n                                                            <div class=\"swiper-slide \" data-timeline=\"item\" data-content-id=\"6\">2014<\/div>\n                                                            <div class=\"swiper-slide \" data-timeline=\"item\" data-content-id=\"7\">2013<\/div>\n                                                            <div class=\"swiper-slide \" data-timeline=\"item\" data-content-id=\"8\">2010<\/div>\n                                                            <div class=\"swiper-slide \" data-timeline=\"item\" data-content-id=\"9\">2007<\/div>\n                                                            <div class=\"swiper-slide \" data-timeline=\"item\" data-content-id=\"10\">2006<\/div>\n                                                      <\/div>\n                    <\/div>\n                    <div class=\"button-next\" data-timeline=\"next\"><svg\n    class=\"select-down-icon\"\n    xmlns=\"http:\/\/www.w3.org\/2000\/svg\"\n    viewBox=\"0 0 14 9\"\n>\n    <path\n        fill=\"none\"\n        stroke-linecap=\"round\"\n        stroke-linejoin=\"round\"\n        stroke-width=\"1.5\"\n        d=\"M.928 1.542l5.981 5.981 5.98-5.981\"\n    \/>\n<\/svg>\n<\/div>\n                <\/div>\n                <div class=\"column-4\">\n                                            <div class=\"swiper-item s-0 active\" data-timeline=\"content\">\n                                                            <div class=\"number\">2026<\/div>\n                                                                                                                <div class=\"content\">\n                                <div class=\"content__inner\">\n                                                                                                                        <div class=\"file \">\n                                                <a href=\"https:\/\/www.wendelgroup.com\/wp-content\/uploads\/2026\/02\/wendel-stahl-jan2026-eng-final.pdf\" target=\"_blank\" rel=\"noopener\">\n                                                    <div class=\"file__date\">February 4, 2026<\/div>                                                    <div class=\"file__name\">\n                                                        <span class=\"icon\"><svg class=\"pdf-icon\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" viewBox=\"0 0 15 15\">\n    <path\n        d=\"M10.687 8.348c-.579-.456-1.129-.924-1.495-1.29-.476-.476-.9-.937-1.269-1.377.575-1.777.827-2.693.827-3.181C8.75.425 8 0 6.875 0 6.02 0 5 .444 5 2.56c0 .932.51 2.065 1.523 3.38-.247.757-.538 1.629-.866 2.612-.157.472-.328.91-.509 1.313-.147.065-.29.132-.428.2-.496.25-.968.473-1.406.68C1.318 11.69 0 12.315 0 13.55 0 14.445.974 15 1.875 15c1.162 0 2.917-1.552 4.199-4.167 1.33-.525 2.984-.914 4.29-1.157 1.046.804 2.201 1.574 2.761 1.574 1.55 0 1.875-.896 1.875-1.647 0-1.478-1.688-1.478-2.5-1.478-.252 0-.928.074-1.813.223zM1.875 13.75c-.357 0-.599-.168-.625-.2 0-.444 1.321-1.07 2.6-1.676l.247-.116c-.939 1.361-1.867 1.992-2.222 1.992zM6.25 2.56c0-1.31.407-1.31.625-1.31.442 0 .625 0 .625 1.25 0 .264-.176.923-.497 1.952-.491-.756-.753-1.403-.753-1.892zm.48 6.717c.038-.108.076-.218.113-.33l.627-1.883c.259.286.538.578.838.878.117.117.408.38.795.71-.77.169-1.59.377-2.374.625zm7.02.326c0 .28 0 .397-.58.4-.17-.036-.564-.268-1.05-.599.177-.02.307-.029.38-.029.923 0 1.185.09 1.25.228z\"\n    \/>\n<\/svg>\n<\/span>\n                                                        <span class=\"text\">Agreement to sell Stahl, the global leader in specialty coatings for flexible materials, to Henkel<\/span>\n                                                    <\/div>\n                                                <\/a>\n                                            <\/div>\n                                                                                                                                                                                    <\/div>\n                            <\/div>\n                        <\/div>\n                                            <div class=\"swiper-item s-1 \" data-timeline=\"content\">\n                                                            <div class=\"number\">2026<\/div>\n                                                                                                                <div class=\"content\">\n                                <div class=\"content__inner\">\n                                                                                                                        <div class=\"file \">\n                                                <a href=\"https:\/\/www.stahl.com\/news\/stahl-completes-the-carve-out-of-its-wet-end-leather-business-becoming-a-pure-play-speciality-coatings-leader\" target=\"_blank\" rel=\"noopener\">\n                                                    <div class=\"file__date\">January 6, 2026<\/div>                                                    <div class=\"file__name\">\n                                                        <span class=\"icon\"><svg class=\"pdf-icon\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" viewBox=\"0 0 15 15\">\n    <path\n        d=\"M10.687 8.348c-.579-.456-1.129-.924-1.495-1.29-.476-.476-.9-.937-1.269-1.377.575-1.777.827-2.693.827-3.181C8.75.425 8 0 6.875 0 6.02 0 5 .444 5 2.56c0 .932.51 2.065 1.523 3.38-.247.757-.538 1.629-.866 2.612-.157.472-.328.91-.509 1.313-.147.065-.29.132-.428.2-.496.25-.968.473-1.406.68C1.318 11.69 0 12.315 0 13.55 0 14.445.974 15 1.875 15c1.162 0 2.917-1.552 4.199-4.167 1.33-.525 2.984-.914 4.29-1.157 1.046.804 2.201 1.574 2.761 1.574 1.55 0 1.875-.896 1.875-1.647 0-1.478-1.688-1.478-2.5-1.478-.252 0-.928.074-1.813.223zM1.875 13.75c-.357 0-.599-.168-.625-.2 0-.444 1.321-1.07 2.6-1.676l.247-.116c-.939 1.361-1.867 1.992-2.222 1.992zM6.25 2.56c0-1.31.407-1.31.625-1.31.442 0 .625 0 .625 1.25 0 .264-.176.923-.497 1.952-.491-.756-.753-1.403-.753-1.892zm.48 6.717c.038-.108.076-.218.113-.33l.627-1.883c.259.286.538.578.838.878.117.117.408.38.795.71-.77.169-1.59.377-2.374.625zm7.02.326c0 .28 0 .397-.58.4-.17-.036-.564-.268-1.05-.599.177-.02.307-.029.38-.029.923 0 1.185.09 1.25.228z\"\n    \/>\n<\/svg>\n<\/span>\n                                                        <span class=\"text\">Stahl completes the carve out of its wet-end leather business, becoming a pure-play speciality coatings leader<\/span>\n                                                    <\/div>\n                                                <\/a>\n                                            <\/div>\n                                                                                                                                                                                    <\/div>\n                            <\/div>\n                        <\/div>\n                                            <div class=\"swiper-item s-2 \" data-timeline=\"content\">\n                                                            <div class=\"number\">2021<\/div>\n                                                                                                                <div class=\"content\">\n                                <div class=\"content__inner\">\n                                                                                                                        <div class=\"file \">\n                                                <a href=\"https:\/\/wendelgroup.com\/wp-content\/uploads\/2021\/06\/03.11.2021-Maarten-Heijbroek-appointed-CEO-of-Stahl.pdf\" target=\"_blank\" rel=\"noopener\">\n                                                    <div class=\"file__date\">March 11, 2021<\/div>                                                    <div class=\"file__name\">\n                                                        <span class=\"icon\"><svg class=\"pdf-icon\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" viewBox=\"0 0 15 15\">\n    <path\n        d=\"M10.687 8.348c-.579-.456-1.129-.924-1.495-1.29-.476-.476-.9-.937-1.269-1.377.575-1.777.827-2.693.827-3.181C8.75.425 8 0 6.875 0 6.02 0 5 .444 5 2.56c0 .932.51 2.065 1.523 3.38-.247.757-.538 1.629-.866 2.612-.157.472-.328.91-.509 1.313-.147.065-.29.132-.428.2-.496.25-.968.473-1.406.68C1.318 11.69 0 12.315 0 13.55 0 14.445.974 15 1.875 15c1.162 0 2.917-1.552 4.199-4.167 1.33-.525 2.984-.914 4.29-1.157 1.046.804 2.201 1.574 2.761 1.574 1.55 0 1.875-.896 1.875-1.647 0-1.478-1.688-1.478-2.5-1.478-.252 0-.928.074-1.813.223zM1.875 13.75c-.357 0-.599-.168-.625-.2 0-.444 1.321-1.07 2.6-1.676l.247-.116c-.939 1.361-1.867 1.992-2.222 1.992zM6.25 2.56c0-1.31.407-1.31.625-1.31.442 0 .625 0 .625 1.25 0 .264-.176.923-.497 1.952-.491-.756-.753-1.403-.753-1.892zm.48 6.717c.038-.108.076-.218.113-.33l.627-1.883c.259.286.538.578.838.878.117.117.408.38.795.71-.77.169-1.59.377-2.374.625zm7.02.326c0 .28 0 .397-.58.4-.17-.036-.564-.268-1.05-.599.177-.02.307-.029.38-.029.923 0 1.185.09 1.25.228z\"\n    \/>\n<\/svg>\n<\/span>\n                                                        <span class=\"text\">Maarten Heijbroek appointed CEO of Stahl<\/span>\n                                                    <\/div>\n                                                <\/a>\n                                            <\/div>\n                                                                                                                                                                                    <\/div>\n                            <\/div>\n                        <\/div>\n                                            <div class=\"swiper-item s-3 \" data-timeline=\"content\">\n                                                            <div class=\"number\">2019<\/div>\n                                                                                                                <div class=\"content\">\n                                <div class=\"content__inner\">\n                                                                                                                        <div class=\"file \">\n                                                <a href=\"https:\/\/wendelgroup.com\/wp-content\/uploads\/2021\/06\/01.03.2019-Wendel-strengthens-its-position-in-Stahl-by-acquiring-4.8-pc-of-the-capital-from-Clariant-for-E50m.pdf\" target=\"_blank\" rel=\"noopener\">\n                                                    <div class=\"file__date\">January 3, 2019<\/div>                                                    <div class=\"file__name\">\n                                                        <span class=\"icon\"><svg class=\"pdf-icon\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" viewBox=\"0 0 15 15\">\n    <path\n        d=\"M10.687 8.348c-.579-.456-1.129-.924-1.495-1.29-.476-.476-.9-.937-1.269-1.377.575-1.777.827-2.693.827-3.181C8.75.425 8 0 6.875 0 6.02 0 5 .444 5 2.56c0 .932.51 2.065 1.523 3.38-.247.757-.538 1.629-.866 2.612-.157.472-.328.91-.509 1.313-.147.065-.29.132-.428.2-.496.25-.968.473-1.406.68C1.318 11.69 0 12.315 0 13.55 0 14.445.974 15 1.875 15c1.162 0 2.917-1.552 4.199-4.167 1.33-.525 2.984-.914 4.29-1.157 1.046.804 2.201 1.574 2.761 1.574 1.55 0 1.875-.896 1.875-1.647 0-1.478-1.688-1.478-2.5-1.478-.252 0-.928.074-1.813.223zM1.875 13.75c-.357 0-.599-.168-.625-.2 0-.444 1.321-1.07 2.6-1.676l.247-.116c-.939 1.361-1.867 1.992-2.222 1.992zM6.25 2.56c0-1.31.407-1.31.625-1.31.442 0 .625 0 .625 1.25 0 .264-.176.923-.497 1.952-.491-.756-.753-1.403-.753-1.892zm.48 6.717c.038-.108.076-.218.113-.33l.627-1.883c.259.286.538.578.838.878.117.117.408.38.795.71-.77.169-1.59.377-2.374.625zm7.02.326c0 .28 0 .397-.58.4-.17-.036-.564-.268-1.05-.599.177-.02.307-.029.38-.029.923 0 1.185.09 1.25.228z\"\n    \/>\n<\/svg>\n<\/span>\n                                                        <span class=\"text\">Wendel strengthens its position in Stahl by acquiring 4.8% of the capital from Clariant for \u20ac50 million<\/span>\n                                                    <\/div>\n                                                <\/a>\n                                            <\/div>\n                                                                                                                                                                                    <\/div>\n                            <\/div>\n                        <\/div>\n                                            <div class=\"swiper-item s-4 \" data-timeline=\"content\">\n                                                            <div class=\"number\">2017<\/div>\n                                                                                                                <div class=\"content\">\n                                <div class=\"content__inner\">\n                                                                                                                        <div class=\"file \">\n                                                <a href=\"https:\/\/wendelgroup.com\/wp-content\/uploads\/2021\/06\/03.23.2017-BASF-Leather-Chemicals-business-to-become-part-of-the-Stahl-Group.pdf\" target=\"_blank\" rel=\"noopener\">\n                                                    <div class=\"file__date\">March 23, 2017<\/div>                                                    <div class=\"file__name\">\n                                                        <span class=\"icon\"><svg class=\"pdf-icon\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" viewBox=\"0 0 15 15\">\n    <path\n        d=\"M10.687 8.348c-.579-.456-1.129-.924-1.495-1.29-.476-.476-.9-.937-1.269-1.377.575-1.777.827-2.693.827-3.181C8.75.425 8 0 6.875 0 6.02 0 5 .444 5 2.56c0 .932.51 2.065 1.523 3.38-.247.757-.538 1.629-.866 2.612-.157.472-.328.91-.509 1.313-.147.065-.29.132-.428.2-.496.25-.968.473-1.406.68C1.318 11.69 0 12.315 0 13.55 0 14.445.974 15 1.875 15c1.162 0 2.917-1.552 4.199-4.167 1.33-.525 2.984-.914 4.29-1.157 1.046.804 2.201 1.574 2.761 1.574 1.55 0 1.875-.896 1.875-1.647 0-1.478-1.688-1.478-2.5-1.478-.252 0-.928.074-1.813.223zM1.875 13.75c-.357 0-.599-.168-.625-.2 0-.444 1.321-1.07 2.6-1.676l.247-.116c-.939 1.361-1.867 1.992-2.222 1.992zM6.25 2.56c0-1.31.407-1.31.625-1.31.442 0 .625 0 .625 1.25 0 .264-.176.923-.497 1.952-.491-.756-.753-1.403-.753-1.892zm.48 6.717c.038-.108.076-.218.113-.33l.627-1.883c.259.286.538.578.838.878.117.117.408.38.795.71-.77.169-1.59.377-2.374.625zm7.02.326c0 .28 0 .397-.58.4-.17-.036-.564-.268-1.05-.599.177-.02.307-.029.38-.029.923 0 1.185.09 1.25.228z\"\n    \/>\n<\/svg>\n<\/span>\n                                                        <span class=\"text\">BASF Leather Chemicals business to become part of the Stahl Group<\/span>\n                                                    <\/div>\n                                                <\/a>\n                                            <\/div>\n                                                                                    <div class=\"file \">\n                                                <a href=\"https:\/\/wendelgroup.com\/wp-content\/uploads\/2021\/06\/10.02.2017-Stahl-completes-acquisition-of-the-BASF-leather-chemicals-assets.pdf\" target=\"_blank\" rel=\"noopener\">\n                                                    <div class=\"file__date\">October 2, 2017<\/div>                                                    <div class=\"file__name\">\n                                                        <span class=\"icon\"><svg class=\"pdf-icon\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" viewBox=\"0 0 15 15\">\n    <path\n        d=\"M10.687 8.348c-.579-.456-1.129-.924-1.495-1.29-.476-.476-.9-.937-1.269-1.377.575-1.777.827-2.693.827-3.181C8.75.425 8 0 6.875 0 6.02 0 5 .444 5 2.56c0 .932.51 2.065 1.523 3.38-.247.757-.538 1.629-.866 2.612-.157.472-.328.91-.509 1.313-.147.065-.29.132-.428.2-.496.25-.968.473-1.406.68C1.318 11.69 0 12.315 0 13.55 0 14.445.974 15 1.875 15c1.162 0 2.917-1.552 4.199-4.167 1.33-.525 2.984-.914 4.29-1.157 1.046.804 2.201 1.574 2.761 1.574 1.55 0 1.875-.896 1.875-1.647 0-1.478-1.688-1.478-2.5-1.478-.252 0-.928.074-1.813.223zM1.875 13.75c-.357 0-.599-.168-.625-.2 0-.444 1.321-1.07 2.6-1.676l.247-.116c-.939 1.361-1.867 1.992-2.222 1.992zM6.25 2.56c0-1.31.407-1.31.625-1.31.442 0 .625 0 .625 1.25 0 .264-.176.923-.497 1.952-.491-.756-.753-1.403-.753-1.892zm.48 6.717c.038-.108.076-.218.113-.33l.627-1.883c.259.286.538.578.838.878.117.117.408.38.795.71-.77.169-1.59.377-2.374.625zm7.02.326c0 .28 0 .397-.58.4-.17-.036-.564-.268-1.05-.599.177-.02.307-.029.38-.029.923 0 1.185.09 1.25.228z\"\n    \/>\n<\/svg>\n<\/span>\n                                                        <span class=\"text\">Stahl completes acquisition of the BASF leather chemicals assets<\/span>\n                                                    <\/div>\n                                                <\/a>\n                                            <\/div>\n                                                                                                                                                                                    <\/div>\n                            <\/div>\n                        <\/div>\n                                            <div class=\"swiper-item s-5 \" data-timeline=\"content\">\n                                                            <div class=\"number\">2016<\/div>\n                                                                                                                <div class=\"content\">\n                                <div class=\"content__inner\">\n                                                                                                                        <div class=\"file \">\n                                                <a href=\"https:\/\/wendelgroup.com\/wp-content\/uploads\/2021\/06\/11.23.2016-Stahl-acquires-the-Eagle-Performance-Products-business.pdf\" target=\"_blank\" rel=\"noopener\">\n                                                    <div class=\"file__date\">November 23, 2016<\/div>                                                    <div class=\"file__name\">\n                                                        <span class=\"icon\"><svg class=\"pdf-icon\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" viewBox=\"0 0 15 15\">\n    <path\n        d=\"M10.687 8.348c-.579-.456-1.129-.924-1.495-1.29-.476-.476-.9-.937-1.269-1.377.575-1.777.827-2.693.827-3.181C8.75.425 8 0 6.875 0 6.02 0 5 .444 5 2.56c0 .932.51 2.065 1.523 3.38-.247.757-.538 1.629-.866 2.612-.157.472-.328.91-.509 1.313-.147.065-.29.132-.428.2-.496.25-.968.473-1.406.68C1.318 11.69 0 12.315 0 13.55 0 14.445.974 15 1.875 15c1.162 0 2.917-1.552 4.199-4.167 1.33-.525 2.984-.914 4.29-1.157 1.046.804 2.201 1.574 2.761 1.574 1.55 0 1.875-.896 1.875-1.647 0-1.478-1.688-1.478-2.5-1.478-.252 0-.928.074-1.813.223zM1.875 13.75c-.357 0-.599-.168-.625-.2 0-.444 1.321-1.07 2.6-1.676l.247-.116c-.939 1.361-1.867 1.992-2.222 1.992zM6.25 2.56c0-1.31.407-1.31.625-1.31.442 0 .625 0 .625 1.25 0 .264-.176.923-.497 1.952-.491-.756-.753-1.403-.753-1.892zm.48 6.717c.038-.108.076-.218.113-.33l.627-1.883c.259.286.538.578.838.878.117.117.408.38.795.71-.77.169-1.59.377-2.374.625zm7.02.326c0 .28 0 .397-.58.4-.17-.036-.564-.268-1.05-.599.177-.02.307-.029.38-.029.923 0 1.185.09 1.25.228z\"\n    \/>\n<\/svg>\n<\/span>\n                                                        <span class=\"text\">Stahl acquires the Eagle Performance Products business<\/span>\n                                                    <\/div>\n                                                <\/a>\n                                            <\/div>\n                                                                                                                                                                                    <\/div>\n                            <\/div>\n                        <\/div>\n                                            <div class=\"swiper-item s-6 \" data-timeline=\"content\">\n                                                            <div class=\"number\">2014<\/div>\n                                                                                                                <div class=\"content\">\n                                <div class=\"content__inner\">\n                                                                                                                        <div class=\"file \">\n                                                <a href=\"https:\/\/www.wendelgroup.com\/sites\/default\/files\/pdfs\/presse\/wendel_stahl_closing_pr_eng.pdf\" target=\"_blank\" rel=\"noopener\">\n                                                    <div class=\"file__date\">April 30, 2014<\/div>                                                    <div class=\"file__name\">\n                                                        <span class=\"icon\"><svg class=\"pdf-icon\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" viewBox=\"0 0 15 15\">\n    <path\n        d=\"M10.687 8.348c-.579-.456-1.129-.924-1.495-1.29-.476-.476-.9-.937-1.269-1.377.575-1.777.827-2.693.827-3.181C8.75.425 8 0 6.875 0 6.02 0 5 .444 5 2.56c0 .932.51 2.065 1.523 3.38-.247.757-.538 1.629-.866 2.612-.157.472-.328.91-.509 1.313-.147.065-.29.132-.428.2-.496.25-.968.473-1.406.68C1.318 11.69 0 12.315 0 13.55 0 14.445.974 15 1.875 15c1.162 0 2.917-1.552 4.199-4.167 1.33-.525 2.984-.914 4.29-1.157 1.046.804 2.201 1.574 2.761 1.574 1.55 0 1.875-.896 1.875-1.647 0-1.478-1.688-1.478-2.5-1.478-.252 0-.928.074-1.813.223zM1.875 13.75c-.357 0-.599-.168-.625-.2 0-.444 1.321-1.07 2.6-1.676l.247-.116c-.939 1.361-1.867 1.992-2.222 1.992zM6.25 2.56c0-1.31.407-1.31.625-1.31.442 0 .625 0 .625 1.25 0 .264-.176.923-.497 1.952-.491-.756-.753-1.403-.753-1.892zm.48 6.717c.038-.108.076-.218.113-.33l.627-1.883c.259.286.538.578.838.878.117.117.408.38.795.71-.77.169-1.59.377-2.374.625zm7.02.326c0 .28 0 .397-.58.4-.17-.036-.564-.268-1.05-.599.177-.02.307-.029.38-.029.923 0 1.185.09 1.25.228z\"\n    \/>\n<\/svg>\n<\/span>\n                                                        <span class=\"text\">Stahl completed the acquisition of Clariant Leather Services<\/span>\n                                                    <\/div>\n                                                <\/a>\n                                            <\/div>\n                                                                                                                                                                                    <\/div>\n                            <\/div>\n                        <\/div>\n                                            <div class=\"swiper-item s-7 \" data-timeline=\"content\">\n                                                            <div class=\"number\">2013<\/div>\n                                                                                                                <div class=\"content\">\n                                <div class=\"content__inner\">\n                                                                                                                        <div class=\"file \">\n                                                <a href=\"https:\/\/wendelgroup.com\/wp-content\/uploads\/2021\/06\/10.30.2013-Shahl-is-in-exclusive-negotiations-with-Clariant-for-the-acquisition-of-Clariants-leather-services-business.pdf\" target=\"_blank\" rel=\"noopener\">\n                                                    <div class=\"file__date\">October 30, 2013<\/div>                                                    <div class=\"file__name\">\n                                                        <span class=\"icon\"><svg class=\"pdf-icon\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" viewBox=\"0 0 15 15\">\n    <path\n        d=\"M10.687 8.348c-.579-.456-1.129-.924-1.495-1.29-.476-.476-.9-.937-1.269-1.377.575-1.777.827-2.693.827-3.181C8.75.425 8 0 6.875 0 6.02 0 5 .444 5 2.56c0 .932.51 2.065 1.523 3.38-.247.757-.538 1.629-.866 2.612-.157.472-.328.91-.509 1.313-.147.065-.29.132-.428.2-.496.25-.968.473-1.406.68C1.318 11.69 0 12.315 0 13.55 0 14.445.974 15 1.875 15c1.162 0 2.917-1.552 4.199-4.167 1.33-.525 2.984-.914 4.29-1.157 1.046.804 2.201 1.574 2.761 1.574 1.55 0 1.875-.896 1.875-1.647 0-1.478-1.688-1.478-2.5-1.478-.252 0-.928.074-1.813.223zM1.875 13.75c-.357 0-.599-.168-.625-.2 0-.444 1.321-1.07 2.6-1.676l.247-.116c-.939 1.361-1.867 1.992-2.222 1.992zM6.25 2.56c0-1.31.407-1.31.625-1.31.442 0 .625 0 .625 1.25 0 .264-.176.923-.497 1.952-.491-.756-.753-1.403-.753-1.892zm.48 6.717c.038-.108.076-.218.113-.33l.627-1.883c.259.286.538.578.838.878.117.117.408.38.795.71-.77.169-1.59.377-2.374.625zm7.02.326c0 .28 0 .397-.58.4-.17-.036-.564-.268-1.05-.599.177-.02.307-.029.38-.029.923 0 1.185.09 1.25.228z\"\n    \/>\n<\/svg>\n<\/span>\n                                                        <span class=\"text\">Stahl is in exclusive negotiations with Clariant for the acquisition of Clariant\u2019s leather services business<\/span>\n                                                    <\/div>\n                                                <\/a>\n                                            <\/div>\n                                                                                                                                                                                    <\/div>\n                            <\/div>\n                        <\/div>\n                                            <div class=\"swiper-item s-8 \" data-timeline=\"content\">\n                                                            <div class=\"number\">2010<\/div>\n                                                                                                                <div class=\"content\">\n                                <div class=\"content__inner\">\n                                                                                                                        <div class=\"file \">\n                                                <a href=\"https:\/\/wendelgroup.com\/wp-content\/uploads\/2021\/06\/03.01.2010-Wendel-announces-that-it-holds-a-92pc-stake-in-Stahl.pdf\" target=\"_blank\" rel=\"noopener\">\n                                                    <div class=\"file__date\">March 1st, 2010<\/div>                                                    <div class=\"file__name\">\n                                                        <span class=\"icon\"><svg class=\"pdf-icon\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" viewBox=\"0 0 15 15\">\n    <path\n        d=\"M10.687 8.348c-.579-.456-1.129-.924-1.495-1.29-.476-.476-.9-.937-1.269-1.377.575-1.777.827-2.693.827-3.181C8.75.425 8 0 6.875 0 6.02 0 5 .444 5 2.56c0 .932.51 2.065 1.523 3.38-.247.757-.538 1.629-.866 2.612-.157.472-.328.91-.509 1.313-.147.065-.29.132-.428.2-.496.25-.968.473-1.406.68C1.318 11.69 0 12.315 0 13.55 0 14.445.974 15 1.875 15c1.162 0 2.917-1.552 4.199-4.167 1.33-.525 2.984-.914 4.29-1.157 1.046.804 2.201 1.574 2.761 1.574 1.55 0 1.875-.896 1.875-1.647 0-1.478-1.688-1.478-2.5-1.478-.252 0-.928.074-1.813.223zM1.875 13.75c-.357 0-.599-.168-.625-.2 0-.444 1.321-1.07 2.6-1.676l.247-.116c-.939 1.361-1.867 1.992-2.222 1.992zM6.25 2.56c0-1.31.407-1.31.625-1.31.442 0 .625 0 .625 1.25 0 .264-.176.923-.497 1.952-.491-.756-.753-1.403-.753-1.892zm.48 6.717c.038-.108.076-.218.113-.33l.627-1.883c.259.286.538.578.838.878.117.117.408.38.795.71-.77.169-1.59.377-2.374.625zm7.02.326c0 .28 0 .397-.58.4-.17-.036-.564-.268-1.05-.599.177-.02.307-.029.38-.029.923 0 1.185.09 1.25.228z\"\n    \/>\n<\/svg>\n<\/span>\n                                                        <span class=\"text\">Wendel announces that it holds a 92% stake in Stahl and has completed a successful financial restructuring with unanimous lenders support<\/span>\n                                                    <\/div>\n                                                <\/a>\n                                            <\/div>\n                                                                                                                                                                                    <\/div>\n                            <\/div>\n                        <\/div>\n                                            <div class=\"swiper-item s-9 \" data-timeline=\"content\">\n                                                            <div class=\"number\">2007<\/div>\n                                                                                                                <div class=\"content\">\n                                <div class=\"content__inner\">\n                                                                                                                        <div class=\"file \">\n                                                <a href=\"https:\/\/wendelgroup.com\/wp-content\/uploads\/2021\/06\/30.01.2007-Nomination-dun-nouveau-Directeur-General-chez-Stahl-1.pdf\" target=\"_blank\" rel=\"noopener\">\n                                                    <div class=\"file__date\">January 30, 2007<\/div>                                                    <div class=\"file__name\">\n                                                        <span class=\"icon\"><svg class=\"pdf-icon\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" viewBox=\"0 0 15 15\">\n    <path\n        d=\"M10.687 8.348c-.579-.456-1.129-.924-1.495-1.29-.476-.476-.9-.937-1.269-1.377.575-1.777.827-2.693.827-3.181C8.75.425 8 0 6.875 0 6.02 0 5 .444 5 2.56c0 .932.51 2.065 1.523 3.38-.247.757-.538 1.629-.866 2.612-.157.472-.328.91-.509 1.313-.147.065-.29.132-.428.2-.496.25-.968.473-1.406.68C1.318 11.69 0 12.315 0 13.55 0 14.445.974 15 1.875 15c1.162 0 2.917-1.552 4.199-4.167 1.33-.525 2.984-.914 4.29-1.157 1.046.804 2.201 1.574 2.761 1.574 1.55 0 1.875-.896 1.875-1.647 0-1.478-1.688-1.478-2.5-1.478-.252 0-.928.074-1.813.223zM1.875 13.75c-.357 0-.599-.168-.625-.2 0-.444 1.321-1.07 2.6-1.676l.247-.116c-.939 1.361-1.867 1.992-2.222 1.992zM6.25 2.56c0-1.31.407-1.31.625-1.31.442 0 .625 0 .625 1.25 0 .264-.176.923-.497 1.952-.491-.756-.753-1.403-.753-1.892zm.48 6.717c.038-.108.076-.218.113-.33l.627-1.883c.259.286.538.578.838.878.117.117.408.38.795.71-.77.169-1.59.377-2.374.625zm7.02.326c0 .28 0 .397-.58.4-.17-.036-.564-.268-1.05-.599.177-.02.307-.029.38-.029.923 0 1.185.09 1.25.228z\"\n    \/>\n<\/svg>\n<\/span>\n                                                        <span class=\"text\">Nomination d&#8217;un nouveau Directeur G\u00e9n\u00e9ral chez Stahl (in french)<\/span>\n                                                    <\/div>\n                                                <\/a>\n                                            <\/div>\n                                                                                                                                                                                    <\/div>\n                            <\/div>\n                        <\/div>\n                                            <div class=\"swiper-item s-10 \" data-timeline=\"content\">\n                                                            <div class=\"number\">2006<\/div>\n                                                                                                                <div class=\"content\">\n                                <div class=\"content__inner\">\n                                                                                                                        <div class=\"file \">\n                                                <a href=\"https:\/\/wendelgroup.com\/wp-content\/uploads\/2021\/06\/06.30.2006-Oranje-Nassau-a-subsidiary-of-Wendel-Investissement-and-The-Carlyle-Group-acquire-Stahl-Holdings-B.V..pdf\" target=\"_blank\" rel=\"noopener\">\n                                                    <div class=\"file__date\">June 30, 2006<\/div>                                                    <div class=\"file__name\">\n                                                        <span class=\"icon\"><svg class=\"pdf-icon\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" viewBox=\"0 0 15 15\">\n    <path\n        d=\"M10.687 8.348c-.579-.456-1.129-.924-1.495-1.29-.476-.476-.9-.937-1.269-1.377.575-1.777.827-2.693.827-3.181C8.75.425 8 0 6.875 0 6.02 0 5 .444 5 2.56c0 .932.51 2.065 1.523 3.38-.247.757-.538 1.629-.866 2.612-.157.472-.328.91-.509 1.313-.147.065-.29.132-.428.2-.496.25-.968.473-1.406.68C1.318 11.69 0 12.315 0 13.55 0 14.445.974 15 1.875 15c1.162 0 2.917-1.552 4.199-4.167 1.33-.525 2.984-.914 4.29-1.157 1.046.804 2.201 1.574 2.761 1.574 1.55 0 1.875-.896 1.875-1.647 0-1.478-1.688-1.478-2.5-1.478-.252 0-.928.074-1.813.223zM1.875 13.75c-.357 0-.599-.168-.625-.2 0-.444 1.321-1.07 2.6-1.676l.247-.116c-.939 1.361-1.867 1.992-2.222 1.992zM6.25 2.56c0-1.31.407-1.31.625-1.31.442 0 .625 0 .625 1.25 0 .264-.176.923-.497 1.952-.491-.756-.753-1.403-.753-1.892zm.48 6.717c.038-.108.076-.218.113-.33l.627-1.883c.259.286.538.578.838.878.117.117.408.38.795.71-.77.169-1.59.377-2.374.625zm7.02.326c0 .28 0 .397-.58.4-.17-.036-.564-.268-1.05-.599.177-.02.307-.029.38-.029.923 0 1.185.09 1.25.228z\"\n    \/>\n<\/svg>\n<\/span>\n                                                        <span class=\"text\">Oranje-Nassau, a subsidiary of Wendel Investissement, and The Carlyle Group acquire Stahl Holdings B.V.<\/span>\n                                                    <\/div>\n                                                <\/a>\n                                            <\/div>\n                                                                                                                                                                                    <\/div>\n                            <\/div>\n                        <\/div>\n                                    <\/div>\n            <\/div>\n        <\/div>\n    <\/div>\n<\/div>\n\n<div data-observer=\"item\" data-animation-type=\"fade\" class=\"module module-title with-margin-top- no-padding- add-bottom-padding-\">\n        <div class=\"module-content\">\n        <div class=\"grid\">\n            <div class=\"row r-1\">\n                <div class=\"column-9 title\">\n                    <h2>Why did we invest in Stahl?<\/h2>\n                <\/div>\n                            <\/div>\n        <\/div>\n    <\/div>\n<\/div>\n\n<div\n    data-observer=\"item\"\n    data-animation-type=\"fade\"\n    class=\"module module-text with-margin-top- no-padding- add-bottom-padding-1 is-center-\"\n>\n    <div class=\"module-content\">\n        <div class=\"grid\">\n            <div class=\"row r-1\">\n                <div class=\"column-8\">\n                    <div class=\"text-content\">\n                        <p class=\"p1\"><span class=\"s1\">Stahl is the global leader in specialty formulations for coatings for flexible materials. It enjoys high barriers to entry as a result of its expertise, the close, long\u2011term relationships it maintains with its customers, which include major luxury and high\u2011end car brands, as well as the very high level of skills of its \u201cgolden hands\u201d technicians. <\/span><\/p>\n<p class=\"p1\"><span class=\"s1\">Stahl has prospects for sustained growth generated by its end\u2011markets (particularly top\u2011of the range segments), the regions in which it operates (Asia in particular), the development of sustainable products (particularly water\u2011based) and the development of fast\u2011growing niche markets for specialty coatings. The potential consolidation of its sector identified in 2006, combined with rigorous financial discipline, has allowed Stahl to expand further and strengthen its market leadership. Stahl&#8217;s global sales are spread evenly across its different geographical regions. Since its initial investment of \u20ac171 million in Stahl in 2006, Wendel has received \u20ac427 million in dividends and loan repayments, owing in particular to Stahl\u2019s very strong cash generation. At the end of 2018, Wendel announced the acquisition of 4.8% of Stahl\u2019s capital from Clariant for \u20ac50 million, bringing its total investment in the company to \u20ac221 million.<\/span><\/p>\n\n                    <\/div>\n                <\/div>\n            <\/div>\n        <\/div>\n    <\/div>\n<\/div>\n\n\n<div\n    data-observer=\"item\"\n    data-animation-type=\"fade\"\n    class=\"module module-verbatim with-margin-top- no-padding- add-bottom-padding-\"\n>\n    <div class=\"module-content\">\n        <div class=\"background-text\">\n            Stahl\n        <\/div>\n        <div class=\"grid\">\n            <div class=\"row r-1\">\n                <div class=\"column-12\">\n                    <h2>Quotes from<\/h2>\n                <\/div>\n            <\/div>\n            <div class=\"row r-2\">\n                                    <div class=\"column-5\">\n                        <div class=\"partial quote\">\n    <div class=\"quote__content\">\n        <svg\n    class=\"open-quote-icon\"\n    xmlns=\"http:\/\/www.w3.org\/2000\/svg\"\n    viewBox=\"0 0 19 13\"\n>\n    <path\n        d=\"M8.07 12.88V6.23H4.99c0-2.24.84-3.15 2.8-3.64V0C3.31.28.86 2.8.86 7.07v5.81h7.21zm10.08 0V6.23h-3.08c0-2.24.84-3.15 2.8-3.64V0c-4.48.28-6.93 2.8-6.93 7.07v5.81h7.21z\"\n    \/>\n<\/svg>\n        <svg\n    class=\"close-quote-icon\"\n    xmlns=\"http:\/\/www.w3.org\/2000\/svg\"\n    viewBox=\"0 0 16 11\"\n>\n    <path\n        d=\"M1.06 11.04C4.9 10.8 7 8.64 7 4.98V0H.82v5.7h2.64c0 1.92-.72 2.7-2.4 3.12v2.22zm8.64 0c3.84-.24 5.94-2.4 5.94-6.06V0H9.46v5.7h2.64c0 1.92-.72 2.7-2.4 3.12v2.22z\"\n    \/>\n<\/svg>\n        <p>Wendel is a invaluable partner in our efforts to expand our market share. For nearly 20 years, Wendel has consistently supported us, and demonstrated decisive faith in Stahl, its management and employees to deliver a strong performance.<\/p>\n\n    <\/div>\n    <div class=\"quote__author\">\n        <div class=\"quote__author-img\">\n            <img decoding=\"async\"\n                src=\"https:\/\/www.wendelgroup.com\/wp-content\/uploads\/2021\/07\/16-ronds-maarten-heijbroek.png\"\n                alt=\"16-ronds-maarten-heijbroek\"\n            \/>\n        <\/div>\n        <div class=\"quote__author-metas\">\n            <div class=\"name\">\n                Maarten Heijbroek\n            <\/div>\n            <div class=\"function\">\n                CEO\n            <\/div>\n        <\/div>\n    <\/div>\n<\/div>\n                    <\/div>\n                                                    <div class=\"column-5\">\n                        <div class=\"partial quote\">\n    <div class=\"quote__content\">\n        <svg\n    class=\"open-quote-icon\"\n    xmlns=\"http:\/\/www.w3.org\/2000\/svg\"\n    viewBox=\"0 0 19 13\"\n>\n    <path\n        d=\"M8.07 12.88V6.23H4.99c0-2.24.84-3.15 2.8-3.64V0C3.31.28.86 2.8.86 7.07v5.81h7.21zm10.08 0V6.23h-3.08c0-2.24.84-3.15 2.8-3.64V0c-4.48.28-6.93 2.8-6.93 7.07v5.81h7.21z\"\n    \/>\n<\/svg>\n        <svg\n    class=\"close-quote-icon\"\n    xmlns=\"http:\/\/www.w3.org\/2000\/svg\"\n    viewBox=\"0 0 16 11\"\n>\n    <path\n        d=\"M1.06 11.04C4.9 10.8 7 8.64 7 4.98V0H.82v5.7h2.64c0 1.92-.72 2.7-2.4 3.12v2.22zm8.64 0c3.84-.24 5.94-2.4 5.94-6.06V0H9.46v5.7h2.64c0 1.92-.72 2.7-2.4 3.12v2.22z\"\n    \/>\n<\/svg>\n        <p>Stahl benefits from high entry barriers thanks to its know-how, its long-term relationships with its customers and the very high level of qualification of its technicians (Golden Hands). These are all criteria that illustrate the profile of the investments sought by Wendel.<\/p>\n\n    <\/div>\n    <div class=\"quote__author\">\n        <div class=\"quote__author-img\">\n            <img decoding=\"async\"\n                src=\"https:\/\/www.wendelgroup.com\/wp-content\/uploads\/2023\/01\/mosaique-worday-77-wendel.png\"\n                alt=\"mosaique-worday-77-wendel\"\n            \/>\n        <\/div>\n        <div class=\"quote__author-metas\">\n            <div class=\"name\">\n                Xavier Lemonnier\n            <\/div>\n            <div class=\"function\">\n                Board Member of Stahl\n            <\/div>\n        <\/div>\n    <\/div>\n<\/div>\n                    <\/div>\n                            <\/div>\n        <\/div>\n    <\/div>\n<\/div>\n\n\n<div data-observer=\"item\" data-animation-type=\"fade\" class=\"module module-title with-margin-top- no-padding- add-bottom-padding-\">\n        <div class=\"module-content\">\n        <div class=\"grid\">\n            <div class=\"row r-1\">\n                <div class=\"column-9 title\">\n                    <h2>Outlook for development <\/h2>\n                <\/div>\n                            <\/div>\n        <\/div>\n    <\/div>\n<\/div>\n\n<div\n    data-observer=\"item\"\n    data-animation-type=\"fade\"\n    class=\"module module-text with-margin-top- no-padding- add-bottom-padding- is-center-\"\n>\n    <div class=\"module-content\">\n        <div class=\"grid\">\n            <div class=\"row r-1\">\n                <div class=\"column-8\">\n                    <div class=\"text-content\">\n                        <p class=\"p1\"><span class=\"s1\">In the future, Stahl intends to further develop, strengthen and broaden its core specialty coatings franchise. The acquisition of ISG and Weilburger Graphics GmbH, in 2023 and 2024 respectively, perfectly aligns with this strategic plan. Longer term, Stahl will continue to reinforce its position as the worldwide leader of high\u2011performance coatings for flexible substrates, through organic developments, expanding its current scope of business and gaining further market share, as well as targeted acquisitions in order to expand its addressable market. <\/span><\/p>\n<p class=\"p1\"><span class=\"s1\">Stahl also intends to increase the levels of premiumization and specialization to further support its premium margin model. <\/span><\/p>\n<p class=\"p1\"><span class=\"s1\">The group will continue to capitalize on its strengths, which are its global leadership, unmatched innovation capabilities (innovative environmentally friendly solutions and customized technologies), its strong relationships with top clients, its exposure to fast\u2011growing markets and its active cost and cash flow management (strict financial discipline and value\u2011adding investments). Stahl remains buoyed by strong long\u2011term trends, such as the shift in its markets towards emerging markets, particularly in Asia, and increasing environmental regulations, which are beneficial to Stahl market shares, given its innovation leadership and its unmatched portfolio of solutions complying with these regulations throughout the production chain. The trend towards sustainable products will continue to develop in the future, and Stahl is well positioned to benefit with largely water based formulations and recently launched ranges of products with high levels of renewable content. <\/span><\/p>\n<p class=\"p1\"><span class=\"s1\">Benefiting from a strong financial structure, Stahl is actively reviewing targeted acquisition opportunities, with a focus on specialty coatings.<\/span><\/p>\n\n                    <\/div>\n                <\/div>\n            <\/div>\n        <\/div>\n    <\/div>\n<\/div>\n\n\n<div\n    data-observer=\"item\"\n    data-animation-type=\"fade\"\n    class=\"module module-slider with-margin-top- no-padding- add-bottom-padding-1\"\n    data-module-image-slider\n>\n        <div class=\"module-content\">\n        <div class=\"grid\">\n            <div class=\"row r-1\">\n                <div class=\"column-11 swiper-arrows\" data-image-slider=\"arrows\">\n                    <div class=\"nav prev button-prev\" data-image-slider=\"prev\">\n                        <svg\n    class=\"arrow-right-icon\"\n    xmlns=\"http:\/\/www.w3.org\/2000\/svg\"\n    viewBox=\"0 0 15 16\"\n>\n    <path\n        d=\"M7.375 0l7.601 7.601-7.601 7.602-1.06-1.06 5.89-5.893H0v-1.5h12.003L6.314 1.06 7.375 0z\"\n    \/>\n<\/svg>\n                    <\/div>\n                    <div class=\"nav next button-next\" data-image-slider=\"next\">\n                        <svg\n    class=\"arrow-right-icon\"\n    xmlns=\"http:\/\/www.w3.org\/2000\/svg\"\n    viewBox=\"0 0 15 16\"\n>\n    <path\n        d=\"M7.375 0l7.601 7.601-7.601 7.602-1.06-1.06 5.89-5.893H0v-1.5h12.003L6.314 1.06 7.375 0z\"\n    \/>\n<\/svg>\n                    <\/div>\n                <\/div>\n                <div\n                    class=\"column-12 swiper-container\"\n                    data-image-slider=\"swiper\"\n                >\n                    <div class=\"swiper-wrapper\">\n                                                    <div class=\"swiper-slide\" data-image-slider=\"item\">\n                                <img decoding=\"async\"\n                                    src=\"https:\/\/www.wendelgroup.com\/wp-content\/uploads\/2025\/04\/close-up-green-fabric-adobestock-589020855-scaled.jpeg\"\n                                    alt=\"Close up- green fabric - AdobeStock_589020855\"\n                                \/>\n                                                            <\/div>\n                                            <\/div>\n                <\/div>\n            <\/div>\n        <\/div>\n    <\/div>\n<\/div>\n\n\n<div data-observer=\"item\" data-animation-type=\"fade\" class=\"module module-timeline green with-margin-top- no-padding- add-bottom-padding-\" data-module-timeline>\n    <div class=\"module-background-color\"><\/div>\n        <div class=\"module-content\">\n        <div class=\"grid\">\n            <div class=\"row r-1\">\n                <div class=\"column-5\">\n                    <h2>Stahl ESG&#8217;s approach<\/h2>\n                                            <div class=\"text-content\">\n                            <p>Through its culture of continuous improvement, Stahl limits the impact of its activities on the surrounding ecosystems. Stahl\u2019s strategy is to promote greater transparency throughout the whole supply chain, leading to a more sustainable industry and a progressively lower environmental footprint.<\/p>\n<p><a href=\"https:\/\/www.wendelgroup.com\/wp-content\/uploads\/2025\/04\/wen-2024-urd-en-v-mel-25-04-04.pdf\" target=\"_blank\" rel=\"noopener\"><span style=\"color: #ffffff;\">For more information, see Chapter 4 of our Universal Registration Document.<\/span><\/a><\/p>\n\n                        <\/div>\n                                                        <\/div>\n                <div class=\"column-2\">\n                    <div class=\"button-prev\" data-timeline=\"prev\"><svg\n    class=\"select-down-icon\"\n    xmlns=\"http:\/\/www.w3.org\/2000\/svg\"\n    viewBox=\"0 0 14 9\"\n>\n    <path\n        fill=\"none\"\n        stroke-linecap=\"round\"\n        stroke-linejoin=\"round\"\n        stroke-width=\"1.5\"\n        d=\"M.928 1.542l5.981 5.981 5.98-5.981\"\n    \/>\n<\/svg>\n<\/div>\n                    <div class=\"swiper-container\" data-timeline=\"swiper\">\n                        <div class=\"swiper-wrapper\">\n                                                            <div class=\"swiper-slide active\" data-timeline=\"item\" data-content-id=\"0\">01<\/div>\n                                                            <div class=\"swiper-slide \" data-timeline=\"item\" data-content-id=\"1\">02<\/div>\n                                                            <div class=\"swiper-slide \" data-timeline=\"item\" data-content-id=\"2\">03<\/div>\n                                                            <div class=\"swiper-slide \" data-timeline=\"item\" data-content-id=\"3\">04<\/div>\n                                                            <div class=\"swiper-slide \" data-timeline=\"item\" data-content-id=\"4\">05<\/div>\n                                                            <div class=\"swiper-slide \" data-timeline=\"item\" data-content-id=\"5\">06<\/div>\n                                                      <\/div>\n                    <\/div>\n                    <div class=\"button-next\" data-timeline=\"next\"><svg\n    class=\"select-down-icon\"\n    xmlns=\"http:\/\/www.w3.org\/2000\/svg\"\n    viewBox=\"0 0 14 9\"\n>\n    <path\n        fill=\"none\"\n        stroke-linecap=\"round\"\n        stroke-linejoin=\"round\"\n        stroke-width=\"1.5\"\n        d=\"M.928 1.542l5.981 5.981 5.98-5.981\"\n    \/>\n<\/svg>\n<\/div>\n                <\/div>\n                <div class=\"column-4\">\n                                            <div class=\"swiper-item s-0 active\" data-timeline=\"content\">\n                                                            <div class=\"number\">01<\/div>\n                                                                                        <div class=\"icon\">\n                                    <img decoding=\"async\" src=\"https:\/\/www.wendelgroup.com\/wp-content\/uploads\/2021\/06\/changement-climat-4.png\" alt=\"changement-climat-4\">\n                                <\/div>\n                                                                                        <div class=\"title\">Climate<\/div>\n                                                        <div class=\"content\">\n                                <div class=\"content__inner\">\n                                                                                                                <div class=\"text-content\">\n                                            <p>CO2e emissions in 2024\u00a0:<br \/>\n-14,097 tons on scopes 1 &amp; 2, and<br \/>\n-623,052 tons for the \u201cPurchased goods and services\u201d category of scope 3.<\/p>\n<p>&gt; 2030 ambition: achieve annual CO2e emissions of a maximum of 11,599 tons for scopes 1 and 2, and 603,697 tons for the \u201cPurchases of goods and services\u201d category under scope 3. These ambitions correspond to the GHG emission reduction targets validated by SBTi.<\/p>\n\n                                        <\/div>\n                                                                                                                <div class=\"button arrow-button brown\">\n            <a href=\"https:\/\/cms.stahl.com\/assets\/stahl-esg-report-2024.pdf?_gl=1*eoq7ej*_gcl_au*MTAyMjI1ODQ2OC4xNzQ4OTY0OTA1*_ga*NDU0OTQwMjU2LjE3NDg5NjQ3NTE.*_ga_HW3RH5GVD5*czE3NDk4MDAxOTEkbzYkZzEkdDE3NDk4MjcxODUkajYwJGwwJGgxMjM4MzM0NzE5\" target=\"_blank\">\n            <svg\n    class=\"arrow-right-icon\"\n    xmlns=\"http:\/\/www.w3.org\/2000\/svg\"\n    viewBox=\"0 0 15 16\"\n>\n    <path\n        d=\"M7.375 0l7.601 7.601-7.601 7.602-1.06-1.06 5.89-5.893H0v-1.5h12.003L6.314 1.06 7.375 0z\"\n    \/>\n<\/svg>\n        <span class=\"text\">Read more about Stahl&#8217;s ESG strategy<\/span>\n            <\/a>\n    <\/div>                                                                    <\/div>\n                            <\/div>\n                        <\/div>\n                                            <div class=\"swiper-item s-1 \" data-timeline=\"content\">\n                                                            <div class=\"number\">02<\/div>\n                                                                                        <div class=\"icon\">\n                                    <img decoding=\"async\" src=\"https:\/\/www.wendelgroup.com\/wp-content\/uploads\/2021\/05\/i-1-1.png\" alt=\"i-1\">\n                                <\/div>\n                                                                                        <div class=\"title\">Health &#038; safety<\/div>\n                                                        <div class=\"content\">\n                                <div class=\"content__inner\">\n                                                                                                                <div class=\"text-content\">\n                                            <p>Lost-time injury frequency rate in 2024: 2.24.<\/p>\n<p>&gt; 2030 ambition: Zero accidents, all Stahl locations &amp; staff (including contractors).<\/p>\n\n                                        <\/div>\n                                                                                                        <\/div>\n                            <\/div>\n                        <\/div>\n                                            <div class=\"swiper-item s-2 \" data-timeline=\"content\">\n                                                            <div class=\"number\">03<\/div>\n                                                                                        <div class=\"icon\">\n                                    <img decoding=\"async\" src=\"https:\/\/www.wendelgroup.com\/wp-content\/uploads\/2021\/06\/parite-4.png\" alt=\"parite-4\">\n                                <\/div>\n                                                                                        <div class=\"title\">Gender and diversity<\/div>\n                                                        <div class=\"content\">\n                                <div class=\"content__inner\">\n                                                                                                                <div class=\"text-content\">\n                                            <p>22% of female in Extended leadership team &amp; Heads of function in 2024.<\/p>\n<p>&gt; 2030 ambition: 33% of female in Extended leadership team &amp; heads of function (as defined in Stahl\u2019s HR system).<\/p>\n\n                                        <\/div>\n                                                                                                        <\/div>\n                            <\/div>\n                        <\/div>\n                                            <div class=\"swiper-item s-3 \" data-timeline=\"content\">\n                                                            <div class=\"number\">04<\/div>\n                                                                                        <div class=\"icon\">\n                                    <img decoding=\"async\" src=\"https:\/\/www.wendelgroup.com\/wp-content\/uploads\/2021\/06\/hands.png\" alt=\"hands\">\n                                <\/div>\n                                                                                        <div class=\"title\">Business Ethics<\/div>\n                                                        <div class=\"content\">\n                                <div class=\"content__inner\">\n                                                                                                                <div class=\"text-content\">\n                                            <p>96% of employees trained in Stahl\u2019s Code of Conduct.<\/p>\n<p>&gt; 2030 ambition: 100% of employees trained in Code of Conduct.<\/p>\n\n                                        <\/div>\n                                                                                                        <\/div>\n                            <\/div>\n                        <\/div>\n                                            <div class=\"swiper-item s-4 \" data-timeline=\"content\">\n                                                            <div class=\"number\">05<\/div>\n                                                                                        <div class=\"icon\">\n                                    <img decoding=\"async\" src=\"https:\/\/www.wendelgroup.com\/wp-content\/uploads\/2021\/06\/performance-esg-4.png\" alt=\"performance-esg-4\">\n                                <\/div>\n                                                                                        <div class=\"title\">Sustainable suppliers<\/div>\n                                                        <div class=\"content\">\n                                <div class=\"content__inner\">\n                                                                                                                <div class=\"text-content\">\n                                            <p>Average EcoVadis score for Stahl suppliers in 2024: 62.8\/100.<\/p>\n<p>&gt; 2030 ambition: External Rating for all rated suppliers in EcoVadis: minimum bronze rating (based on spend\/\u20ac).<\/p>\n\n                                        <\/div>\n                                                                                                        <\/div>\n                            <\/div>\n                        <\/div>\n                                            <div class=\"swiper-item s-5 \" data-timeline=\"content\">\n                                                            <div class=\"number\">06<\/div>\n                                                                                        <div class=\"icon\">\n                                    <img decoding=\"async\" src=\"https:\/\/www.wendelgroup.com\/wp-content\/uploads\/2021\/06\/feuille-rond-04.png\" alt=\"feuille-rond-04\">\n                                <\/div>\n                                                                                        <div class=\"title\">Promoting sustainability<\/div>\n                                                        <div class=\"content\">\n                                <div class=\"content__inner\">\n                                                                                                                <div class=\"text-content\">\n                                            <p>100% of employees with a bonus plan had ESG incentive in 2024.<\/p>\n<p>&gt; 2030 ambition: ESG incentive for all employees with a bonus plan.<\/p>\n\n                                        <\/div>\n                                                                                                        <\/div>\n                            <\/div>\n                        <\/div>\n                                    <\/div>\n            <\/div>\n        <\/div>\n    <\/div>\n<\/div>\n\n<div\n    data-observer=\"item\"\n    data-animation-type=\"fade\"\n    class=\"module module-key-numbers with-margin-top- no-padding- add-bottom-padding-\"\n>\n        <div class=\"partial title \">\n        <div class=\"grid\">\n            <div class=\"row\">\n                <div class=\"column-11\">\n                    <span class=\"line\"><\/span>\n                    <span class=\"text\">STAHL&#8217;S NON-FINANCIALS RATINGS<\/span>\n                <\/div>\n            <\/div>\n        <\/div>\n    <\/div>\n    <div class=\"module-content\">\n        <div class=\"grid\">\n            <div class=\"row r-1\">\n                <div class=\"column-12 length-1\">\n                                            <div\n                            class=\"key-item k-1 bg-white\"\n                        >\n                            <div class=\"key-item__icon\">\n                                <img decoding=\"async\"\n                                    src=\"https:\/\/www.wendelgroup.com\/wp-content\/uploads\/2021\/07\/suite-pictos-ecovadis.png\"\n                                    alt=\"suite-pictos-ecovadis\"\n                                \/>\n                            <\/div>\n                                                            <div class=\"key-item__number\">\n                                    <span class=\"value\">Platinum<\/span>\n                                    <span class=\"indice\"><\/span>\n                                <\/div>\n                                <div class=\"key-item__legend\">\n                                    Top 1% of evaluated companies\n                                <\/div>\n                                                    <\/div>\n                                    <\/div>\n            <\/div>\n        <\/div>\n    <\/div>\n<\/div>\n\n\n<div\n    data-observer=\"item\"\n    data-animation-type=\"fade\"\n    class=\"module module-leaders with-margin-top- no-padding- add-bottom-padding-\"\n>\n    <div class=\"module-content\">\n        <div class=\"grid\">\n            <div class=\"row r-1\">\n                <div class=\"column-4 sidebar\">\n                    <div class=\"sidebar__title\">\n                        <h2>Top management <\/h2>\n                        <div class=\"subtitle\">\n                            of Stahl\n                        <\/div>\n                    <\/div>\n                    <div class=\"sidebar__portraits\">\n                                                    <div class=\"portrait-item\">\n                                <div class=\"thumbnail\">\n                                    <img decoding=\"async\"\n                                        src=\"https:\/\/www.wendelgroup.com\/wp-content\/uploads\/2021\/07\/16-ronds-maarten-heijbroek.png\"\n                                        alt=\"16-ronds-maarten-heijbroek\"\n                                    \/>\n                                <\/div>\n                                <div class=\"metas\">\n                                    <div class=\"name\">\n                                        Maarten Heijbroek\n                                    <\/div>\n                                    <div class=\"function\">\n                                        CEO\n                                    <\/div>\n                                <\/div>\n                            <\/div>\n                                            <\/div>\n                <\/div>\n                <div class=\"column-8\">\n                    <div class=\"text-content\">\n                        <h2 class=\"title--h2\">Wendel&#8217;s role in corporate governance<\/h2>\n<p><b>Board of Directors<\/b><br \/>\nJ\u00e9r\u00f4me Michiels (Chairman)<br \/>\nDavid Darmon<br \/>\nXavier Lemonnier\u00b9<br \/>\nElisa Philip<\/p>\n<p><b>Appointments and Compensation Committee<\/b><br \/>\nDavid Darmon (Chairman)<br \/>\nXavier Lemonnier\u00b9<\/p>\n<p><b>Audit Committee<\/b><br \/>\nJ\u00e9r\u00f4me Michiels (Chairman)<br \/>\nElisa Philip<\/p>\n<h6>(1) IK Partners &#8211; representing Wendel<\/h6>\n\n                    <\/div>\n                <\/div>\n            <\/div>\n        <\/div>\n    <\/div>\n<\/div>\n\n\n<div\n    data-observer=\"item\"\n    data-animation-type=\"fade\"\n    class=\"module module-buttons with-margin-top- no-padding- add-bottom-padding-1\"\n>\n    <div class=\"module-content\">\n        <div class=\"grid\">\n            <div class=\"row r-1\">\n                <div class=\"column-8\">\n                                    <\/div>\n            <\/div>\n        <\/div>\n    <\/div>\n<\/div>\n\n\n<div data-observer=\"item\" data-animation-type=\"fade\" class=\"module module-new-and-cp with-margin-top- no-padding-1 add-bottom-padding- expanded\">\n        <div class=\"module-content\">\n        <div class=\"grid\">\n            <div class=\"row r-1\">\n                <div class=\"column-8\">\n                    <div class=\"new-item \">\n                        <a href=\"https:\/\/www.wendelgroup.com\/en\/stahl-has-once-again-been-awarded-the-ecovadis-platinum-rating\/\" class=\"display__block\">\n                            <div class=\"tag\">#Esg<\/div>\n                            <div class=\"date\">17 January 2024<\/div>\n                            <div class=\"excerpt\">Stahl has once again been awarded the EcoVadis Platinum rating<\/div>\n                        <\/a>\n                                                                                                                                                                <div class=\"button arrow-button white\">\n            <a href=\"https:\/\/www.wendelgroup.com\/actualites\/\" target=\"_self\">\n            <svg\n    class=\"arrow-right-icon\"\n    xmlns=\"http:\/\/www.w3.org\/2000\/svg\"\n    viewBox=\"0 0 15 16\"\n>\n    <path\n        d=\"M7.375 0l7.601 7.601-7.601 7.602-1.06-1.06 5.89-5.893H0v-1.5h12.003L6.314 1.06 7.375 0z\"\n    \/>\n<\/svg>\n        <span class=\"text\">All news<\/span>\n            <\/a>\n    <\/div>                    <\/div>\n                    <div class=\"cp-item\">\n                        <a href=\"https:\/\/www.stahl.com\/news\/stahl-completes-the-carve-out-of-its-wet-end-leather-business-becoming-a-pure-play-speciality-coatings-leader\" target=\"_blank\" rel=\"noopener\" class=\"display__block\">\n                            <div class=\"tag\">&#8211; Press release<\/div>\n                            <div class=\"date\">6 January 2026<\/div>\n                            <div class=\"excerpt\">Stahl completes the carve out of its wet-end leather business, becoming a pure-play speciality coatings leader<\/div>\n                        <\/a>\n                                                    <div class=\"button arrow-button brown\">\n            <a href=\"https:\/\/wendelgroup.com\/en\/press-portal\/\" target=\"_blank\">\n            <svg\n    class=\"arrow-right-icon\"\n    xmlns=\"http:\/\/www.w3.org\/2000\/svg\"\n    viewBox=\"0 0 15 16\"\n>\n    <path\n        d=\"M7.375 0l7.601 7.601-7.601 7.602-1.06-1.06 5.89-5.893H0v-1.5h12.003L6.314 1.06 7.375 0z\"\n    \/>\n<\/svg>\n        <span class=\"text\">All press releases<\/span>\n            <\/a>\n    <\/div>                                            <\/div>\n                    <div class=\"cp-item\">\n                        <a href=\"https:\/\/www.stahl.com\/news\/stahl-strengthens-presence-in-turkey-as-weilburger-graphics-operations-become-stahl-kimya\" target=\"_blank\" rel=\"noopener\" class=\"display__block\">\n                            <div class=\"tag\">\n                                                                    &nbsp;\n                                                            <\/div>\n                            <div class=\"date\">1 December 2025<\/div>\n                            <div class=\"excerpt\">Stahl strengthens presence in Turkey as Weilburger Graphics operations become Stahl Kimya<\/div>\n                        <\/a>\n                        <div class=\"socials\">\n                            <ul>\n                                <li class=\"linkedin\">\n                                    <a href=\"https:\/\/www.linkedin.com\/company\/wendel-investissement\/\" target=\"_blank\" rel=\"noopener\">\n                                        <svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" viewBox=\"0 0 20 20\"><path fill-rule=\"evenodd\" d=\"M15.134 6.111C17.86 6.111 20 8.09 20 12.351V20h-4.348v-7.119c0-1.863-.68-3.135-2.175-3.135-1.144 0-1.78.858-2.076 1.686-.111.297-.094.71-.094 1.124V20H7V19.828c.004-.868.02-4.865.024-8.314v-2.21C7.022 7.748 7.015 6.56 7 6.244h4.307v2.159c.254-.945 1.63-2.292 3.827-2.292zM4.5 6.667V20h-4V6.667h4zM2.264 0C3.632 0 4.474.956 4.5 2.22c0 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