Wendel steps up the development of the Wendel Lab and names Jérôme
Michiels, its Executive Vice-President, to head it
PRESS RELEASE – January 13, 2022
Wendel steps up the development of the Wendel
Lab and names Jérôme Michiels, its Executive Vice-President, to
head it
Wendel has decided to strengthen its activities
dedicated to financing fast-growing companies, via two
complementary initiatives headed by Jérôme Michiels, who will
remain Executive Vice-President and Chief Financial Officer.
Strengthening the Wendel Lab to support the
deployment of capital toward fast-growing companies and
sectors
Wendel intends to use the Wendel Lab to gain
additional exposure to future growth. Since it was launched in
2013, the Wendel Lab has principally made commitments to several
high-quality funds specialized in investment in technology. As part
of its 2021-24 roadmap, Wendel announced that this asset category
would ultimately represent 5-10% of its net asset value.
The Wendel Lab has a dual objective:
- Diversify Wendel's portfolio, by gaining exposure to
fast-growing companies, generally with a high digital component or
with a disruptive business model;
- Develop the expertise of Wendel's team and those of its
portfolio companies in terms of technological innovation that could
impact or improve the Group's value-creation profile.
New hires in the Wendel Lab's Growth
activities, dedicated to direct investment in fast-growing
companies
Wendel will continue to invest in funds and
funds of funds. New capital has been committed to the funds most
recently raised by Andreessen Horowitz (A16Z) and Kleiner Perkins,
two of the most highly-respected private equity firms in the United
States, to which Wendel has had access thanks to its partnership
with Accolade.
At the same time, the Wendel Lab will also seek,
as announced, direct investment and co-investment opportunities
through startups, via its Growth investments. To carry out these
direct investments, like the 2019 investment in AlphaSense, the
Wendel Lab will rely on a new team made up of two professionals
experienced in this asset class, including Antoine Izsak, who will
join Wendel in early February as Head of Growth Equity. Mr. Izsak
was previously Investment Director at Bpifrance.
André François-Poncet and David Darmon
said: “By strengthening our organization and appointing Jérôme
Michiels to head the Wendel Lab, we are increasingly moving capital
toward innovation and fast-growing companies.”
Jérôme Michiels, Executive Vice-President of
Wendel and Manager of the Wendel Lab, said: “In structuring the
Wendel Lab and launching the Growth business from an operational
standpoint, Wendel will be able to gain exposure to new investment
opportunities and support innovative companies in their aspiration
to grow, develop, internationalize and acquire critical mass.”
Biography of Jérôme Michiels
Jérôme Michiels, 47, Executive
Vice-President and Chief Financial Officer, Manager of the
Wendel Lab.
Jérôme Michiels joined Wendel at the end of 2006
from BC Partners, an investment fund he worked for from 2002 to
2006. Prior to that he was a consultant at Boston Consulting Group
from 1999 to 2002, advising European clients on strategy,
particularly in the fields of retailing, transportation,
telecommunications, and financial services. Mr. Michiels was
promoted to Director in 2010, then became a partner in 2012 and
joined the Investment Committee at that time. He was named CFO in
2015 and Executive Vice-President in 2019.
He is a graduate of HEC.
Member of the Board of Directors of Bureau
Veritas
Agenda
18.03.2022
2021 Full-Year Results –
Publication of NAV as of December 31, 2021 (pre-market
release).
28.04.2022
Q1 2022 trading update – Publication of
NAV as of March 31, 2022 (pre-market release)
16.06.2022
Shareholders’ Meeting
29.07.2022
H1 2022 results – Publication of NAV as
of June 30, 2022, and consolidated first-half financials
(pre-market release)
28.10.2022
Q3 2022 trading update – Publication of
NAV as of September 30, 2022 (pre-market release)
01.12.2022
Investor Day 2022
About Wendel
Wendel is one of Europe's leading listed
investment firms, investing in Europe, North America and Africa in
companies that are leaders in their field, including Bureau
Veritas, Tarkett, Cromology, Stahl, IHS, Constantia Flexibles and
Crisis Prevention Institute. Wendel often plays an active role as a
majority or significant shareholder in its portfolio companies. It
seeks to implement long-term development strategies, which involve
boosting growth and margins of companies so as to enhance their
leading market positions.
Wendel is listed on Eurolist by Euronext
Paris.
Standard & Poor’s ratings: Long-term: BBB,
stable outlook – Short-term: A-2 since January 25, 2019
Moody’s ratings: Long-term: Baa2, stable outlook
– Short-term: P-2 since September 5, 2018
Wendel is the Founding Sponsor of Centre
Pompidou-Metz. In recognition of its long-term patronage of the
arts, Wendel received the distinction of “Grand Mécène de la
Culture” in 2012.
For more information: wendelgroup.com
Follow us on Twitter @WendelGroup
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