Henkel AG & Co. KGaA entered into an agreement to acquire Stahl Parent B.V. from Wendel (ENXTPA:MF), BASF SE, Clariant AG and others for an enterprise value of ?2.1 billion.
Published on 02/04/2026
at 05:53 am EST - Modified on 02/04/2026
at 06:06 am EST
Henkel AG & Co. KGaA (XTRA:HEN3) entered into an agreement to acquire Stahl Parent B.V. from Wendel (ENXTPA:MF), BASF SE (XTRA:BAS), Clariant AG (SWX:CLN) and others for an enterprise value of ?2.1 billion on February 4, 2026. In addition to Wendel with 68.5% of the capital, BASF with 6.1% of the capital, Clariant with 14.6% of the capital and other minority shareholders will also sell their interests in Stahl to Henkel. The contemplated transaction values Stahl at a level that would yield total net proceeds at completion (after debt and transaction costs) of ?1.2 billion for Wendel. This corresponds to a multiple of 6.6 times (net) Wendel?s total investment since 2006, including ?427 million of past proceeds thanks to Stahl?s robust cash generation. After the acquisition Henkel AG & Co. KGaA owns 100% stake in Stahl Parent B.V.
Stahl employs around 1,700 employees and generated adjusted sales of approximately ?725 million in fiscal year 2025 with a balanced regional footprint.
The transaction is subject to mandatory consultation processes and the satisfaction of customary closing conditions, including regulatory approvals.
Clariant AG is a Switzerland-based producer of specialty chemicals. It operates through three business areas: Care Chemicals, Catalysis, Natural Resources. The Business Area Care Chemicals serves customers in the personal care, home care, paints and coatings, and crop solutions markets. Business Area Catalysis offers catalytic and biofuel solutions. The Business Area Natural Resources offers products and customer-tailored solutions for mineral, foundry, oil, and gas extraction businesses, as well as for food, plastics, coatings, adhesives, and inks applications.
This super rating is the result of a weighted average of the rankings based on the following ratings: Global Valuation (Composite), EPS Revisions (4 months), and Visibility (Composite). We recommend that you carefully review the associated descriptions.
Investor
Investor
This super composite rating is the result of a weighted average of the rankings based on the following ratings: Fundamentals (Composite), Global Valuation (Composite), EPS Revisions (1 year), and Visibility (Composite). We recommend that you carefully review the associated descriptions.
Global
Global
This composite rating is the result of an average of the rankings based on the following ratings: Fundamentals (Composite), Valuation (Composite), Financial Estimates Revisions (Composite), Consensus (Composite), and Visibility (Composite). The company must be covered by at least 4 of these 5 ratings for the calculation to be performed. We recommend that you carefully review the associated descriptions.
Quality
Quality
This composite rating is the result of an average of the rankings based on the following ratings: Capital Efficiency (Composite), Quality of Financial Reporting (Composite), and Financial Health (Composite). The company must be covered by at least 2 of these 3 ratings for the calculation to be performed. We recommend that you carefully review the associated descriptions.
ESG MSCI
ESG MSCI
The MSCI ESG score assesses a company’s environmental, social, and governance practices relative to its industry peers. Companies are rated from CCC (laggard) to AAA (leader). This rating helps investors incorporate sustainability risks and opportunities into their investment decisions.
Henkel AG & Co. KGaA entered into an agreement to acquire Stahl Parent B.V. from Wendel (ENXTPA: MF), BASF SE, Clariant AG and others for an enterprise value of ?2.1 billion.
