Mäder Announces Change in Shareholding Structure and Acquisition of a Stake by Whitestone Group

More than 30 years after its foundation and following a period of strong external growth, the Mäder Group has become a medium-sized, family-owned, international industrial group and a leader in high value-added global paint and composites solutions. 

In a constantly changing world, the Mäder Group has been undergoing a transformation for the past four years and has set out clear objectives through its Ë-Volve strategic plan, which aims to address current challenges – economic, societal and environmental – as an inseparable whole. 

Today more than ever, its unique positioning encompasses its contribution to a sustainable future and its role in the decarbonization of industrial sectors. 

Against this ambitious strategic backdrop, the Mäder Group announced a change in its shareholding structure and the acquisition of a stake by the Whitestone Group. 

Whitestone Group is an investment holding company with a clearly defined philosophy: to invest in medium-sized companies in Belgium and its neighbouring regions (Luxembourg and Hauts-de-France) in sectors benefiting from long-term growth drivers, with a well-understood business model and professional management teams willing to collaborate with their shareholders. The holding company is listed on Euronext Growth Brussels under the ticker ROCK, with a market capitalisation of €171 million and a pro forma net asset value of €183 million. 

With a strong industrial culture, Whitestone Group will support the Mäder Group in its development, drawing on its in-depth understanding of long-term cycles and a clear strategic vision. 

Frédéric Pouchain, CEO of Whitestone Group: “The team and the board of directors are delighted to have finalised this investment, which meets all our financial, sustainability and governance criteria. Acquiring a stake in a family-owned mid-market company that combines industrial and technological expertise in highly technical markets is fully in line with our investment thesis. Its growth plan is in line with our objective of doubling our net asset value by 2030. This is our largest investment to date, utilising a significant portion of the capital raised in early 2026 and demonstrating our ability to deploy our resources rapidly. 

The leadership of Julien Molina, who has been at the helm of the group since 2022, and the experience of its executive committee were key factors in our decision. Supporting families in the development of their businesses by acting as a professional shareholder is part of our DNA.” 

Furthermore, the Mäder Group is delighted that BNP Paribas Développement, a long-standing partner of the group that has supported it for many years, remains a shareholder. 

Willy Bruggeman, Head of Private Equity at BNP Paribas Développement: “We are delighted to renew our confidence in and support for the Mäder Group alongside the Molina family, and to welcome Whitestone Group as a new investor. This new chapter in a story that began for us over 20 years ago promises to be an exciting one.” 

In this context, Bpifrance and Naxicap Partners, partners of the Mäder Group since 2010, have sold their entire stake in the company. Mäder would like to extend its sincere thanks to Bpifrance and Naxicap Partners, as well as the other minority shareholders, who have supported the company’s development for over 15 years and enabled it to successfully complete its transformation to date. 

Similarly, the Socomore Group, which acquired a stake in the group in 2019, is selling its entire stake whilst continuing its partnership with the Mäder Group. 

Thanks to this new shareholding structure, in which the Molina family retains a majority stake, the Mäder Group is entering a new phase with a clear objective. Under the leadership of Julien Molina, aged 33, the group’s CEO, who succeeded his father Antonio Molina in 2023, the Mäder Group will continue to grow, drawing on the regional ecosystem and its partners, and reaping the rewards of the efforts made by all its teams over recent years. 

Julien Molina, Chairman and Chief Executive Officer of the Mäder Group: “I am delighted, both personally and on behalf of all the Group’s employees, to welcome this new shareholding structure. Our ambitions for the coming  years and our mission, shared with Whitestone Group and BNP Paribas Développement, are clear: to continue our growth through an innovative value proposition combining protection, aesthetics, performance and quality of service, with a focus on sustainability and client partnerships built on trust. I would also like to reiterate my thanks to Bpifrance and Naxicap Partners, who have supported the group for the past 15 years and who personally supported me when I took over the reins, as the heir to the entrepreneurial venture started by my parents.”