Hempel has closed its investment deal with CVC Funds following on from the initial announcement in May 2024.
Following the investment in Hempel by CVC Funds, Christoffer Sjøqvist, partner and head of CVC Denmark and Michael Lavrysen, partner at CVC, have been appointed to the board of directors.
Eric Alström, Hempel deputy chair is to step down from the board having served on it since 2017, with Søren Olesen appointed in his place.
The Hempel Foundation continues to be the majority shareholder in Hempel A/S.
Christoffer first joined CVC in 2006 and is a member of the CVC Nordics team based in Copenhagen.
Prior to joining CVC, he worked at Warburg Pincus, Lazard Private Equity and Goldman Sachs in the M&A department. He is a graduate of the London School of Economics.
Michael joined CVC in 2005 and is a member of the CVC Strategic Opportunities investment platform based in Brussels.
CVC Strategic Opportunities invests in high-quality businesses with longer growth horizons.
Michael Lavrysen, partner at CVC
Prior to joining CVC, he worked in the Leveraged Finance department of J.P. Morgan in London.
Michael holds a commercial engineering degree from KU Leuven and an MSc in accounting and finance from the London School of Economics.
“Throughout the process, I have had the chance to get to know both Christoffer and Michael firsthand, and highly value their deep knowledge and unique experience that will support Hempel’s accelerated growth journey,” said Richard Sand, chair of the board. “We look forward to our future partnership and have no doubt that with Christoffer and Michael’s contribution to the board, we are in a strong position to make the next great leaps in Hempel’s future.”
Michael added: “CVC Strategic Opportunities invests in high-quality businesses with longer growth horizons, often partnering with likeminded families and foundations looking for specific expertise to advance expansion.
“Our investment in Hempel aligns perfectly within this strategy, especially the partnership with the Hempel Foundation and we are eager to begin to leverage CVC’s expertise to support the continued success of this world-class business.”
The Hempel Foundation continues to be the majority shareholder in Hempel. The board of now consists of ten members, including three employee-elected representatives.
