<SEC-DOCUMENT>0001644956-25-000041.txt : 20250801
<SEC-HEADER>0001644956-25-000041.hdr.sgml : 20250801
<ACCEPTANCE-DATETIME>20250801124307
ACCESSION NUMBER:		0001644956-25-000041
CONFORMED SUBMISSION TYPE:	SCHEDULE 13G/A
PUBLIC DOCUMENT COUNT:		1
FILED AS OF DATE:		20250801
DATE AS OF CHANGE:		20250801

SUBJECT COMPANY:	

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			Orion S.A.
		CENTRAL INDEX KEY:			0001609804
		STANDARD INDUSTRIAL CLASSIFICATION:	MISCELLANEOUS CHEMICAL PRODUCTS [2890]
		ORGANIZATION NAME:           	08 Industrial Applications and Services
		EIN:				000000000
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		SCHEDULE 13G/A
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	005-88681
		FILM NUMBER:		251175096

	BUSINESS ADDRESS:	
		STREET 1:		1700 CITY PLAZA DRIVE, SUITE 300
		CITY:			SPRING
		STATE:			TX
		ZIP:			77389
		BUSINESS PHONE:		(281) 381-2959

	MAIL ADDRESS:	
		STREET 1:		1700 CITY PLAZA DRIVE, SUITE 300
		CITY:			SPRING
		STATE:			TX
		ZIP:			77389

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	Orion Engineered Carbons S.A.
		DATE OF NAME CHANGE:	20140728

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	Orion Engineered Carbons S.a r.l.
		DATE OF NAME CHANGE:	20140603

FILED BY:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			WILLIAM BLAIR INVESTMENT MANAGEMENT, LLC
		CENTRAL INDEX KEY:			0001644956
		ORGANIZATION NAME:           	
		EIN:				472614791
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		SCHEDULE 13G/A

	BUSINESS ADDRESS:	
		STREET 1:		150 NORTH RIVERSIDE PLAZA
		CITY:			CHICAGO
		STATE:			IL
		ZIP:			60606
		BUSINESS PHONE:		312-236-1600

	MAIL ADDRESS:	
		STREET 1:		150 NORTH RIVERSIDE PLAZA
		CITY:			CHICAGO
		STATE:			IL
		ZIP:			60606
</SEC-HEADER>
<DOCUMENT>
<TYPE>SCHEDULE 13G/A
<SEQUENCE>1
<FILENAME>primary_doc.xml
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    <previousAccessionNumber>0001104659-24-118605</previousAccessionNumber>
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      <filer>
        <filerCredentials>
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    <coverPageHeader>
      <amendmentNo>2</amendmentNo>
      <securitiesClassTitle>Common Stock</securitiesClassTitle>
      <eventDateRequiresFilingThisStatement>06/30/2025</eventDateRequiresFilingThisStatement>
      <issuerInfo>
        <issuerCik>0001609804</issuerCik>
        <issuerName>Orion S.A.</issuerName>
        <issuerCusip>L72967109</issuerCusip>
        <issuerPrincipalExecutiveOfficeAddress>
          <com:street1>1700 CITY PLAZA DRIVE, SUITE 300</com:street1>
          <com:street2>1700 CITY PLAZA DRIVE, SUITE 300</com:street2>
          <com:city>SPRING</com:city>
          <com:stateOrCountry>TX</com:stateOrCountry>
          <com:zipCode>77389</com:zipCode>
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        <designateRulePursuantThisScheduleFiled>Rule 13d-1(b)</designateRulePursuantThisScheduleFiled>
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      <reportingPersonName>WILLIAM BLAIR INVESTMENT MANAGEMENT, LLC</reportingPersonName>
      <reportingPersonBeneficiallyOwnedNumberOfShares>
        <soleVotingPower>451531.00</soleVotingPower>
        <sharedVotingPower>0.00</sharedVotingPower>
        <soleDispositivePower>679847.00</soleDispositivePower>
        <sharedDispositivePower>0.00</sharedDispositivePower>
      </reportingPersonBeneficiallyOwnedNumberOfShares>
      <reportingPersonBeneficiallyOwnedAggregateNumberOfShares>679847.00</reportingPersonBeneficiallyOwnedAggregateNumberOfShares>
      <classPercent>1.2</classPercent>
      <typeOfReportingPerson>IA</typeOfReportingPerson>
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        <issuerName>Orion S.A.</issuerName>
        <issuerPrincipalExecutiveOfficeAddress>1700 CITY PLAZA DRIVE, SUITE 300, 1700 CITY PLAZA DRIVE, SUITE 300, SPRING, TEXAS, 77389</issuerPrincipalExecutiveOfficeAddress>
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      <item2>
        <filingPersonName>William Blair Investment Management, LLC</filingPersonName>
        <principalBusinessOfficeOrResidenceAddress>150 North Riverside Plaza, Chicago, IL 60606</principalBusinessOfficeOrResidenceAddress>
        <citizenship>Delaware</citizenship>
      </item2>
      <item3>
        <notApplicableFlag>N</notApplicableFlag>
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      <item4>
        <amountBeneficiallyOwned>679,847
</amountBeneficiallyOwned>
        <classPercent>1.2%</classPercent>
        <numberOfSharesPersonHas>
          <solePowerOrDirectToVote>451,531
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          <sharedPowerOrDirectToVote>0
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          <solePowerOrDirectToDispose>679,847
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          <sharedPowerOrDirectToDispose>0</sharedPowerOrDirectToDispose>
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      <item5>
        <classOwnership5PercentOrLess>Y</classOwnership5PercentOrLess>
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        <notApplicableFlag>Y</notApplicableFlag>
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      <item10>
        <notApplicableFlag>N</notApplicableFlag>
        <certifications>By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under &amp;#167; 240.14a-11.

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    <signatureInformation>
      <reportingPersonName>WILLIAM BLAIR INVESTMENT MANAGEMENT, LLC</reportingPersonName>
      <signatureDetails>
        <signature>Walter R. Randall, Jr.</signature>
        <title>Chief Compliance Officer</title>
        <date>08/01/2025</date>
      </signatureDetails>
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