OpenGate Capital Portfolio Company, SMAC, Completes Sale of AXTER
04 Marzo 2021 - 1:00AM
Business Wire
Transaction is First of Two Divisions to be
Sold in 2021
OpenGate Capital, a global private equity firm, announced today
that its portfolio company, SMAC, has completed the sale of its
subsidiary, AXTER, which is focused on the production of
waterproofing membranes, to IKO, a leader in global roofing and
related products based in Canada. Terms of the agreement were not
disclosed.
SMAC, a global manufacturer of waterproofing and building
envelope solutions headquartered in France, is representative of
OpenGate’s strong record of acquiring complex, industrial, and
specifically building and construction related businesses across
North America and Europe.
Andrew Nikou, OpenGate’s Founder and CEO, stated, “With the
successful completion of this transaction, SMAC will be able to
sharpen its focus on its core operations and customer solutions.
Our team at OpenGate will continue to support management of SMAC as
they further execute on its business strategy and unlock future
growth opportunities.”
The sale of AXTER, initially announced on October 5, 2020, is in
addition to the previously announced agreement to sell the SMAC
divisions of Skydôme and Essemes Services. The Skydôme and Essemes
Services transaction is expected to be completed in March 2021.
About SMAC
SMAC is one of the leading firms in waterproofing and facades,
with operations in Mainland France, the French overseas
departments, Morocco (Sofima), and South America (Reali). The
business is supported by 2,300 employees and a network of 60 profit
centers in France and performs more than 10,000 projects each
year.
About OpenGate Capital
OpenGate Capital is a global private equity firm specializing in
the acquisition and operation of businesses to create new value
through operational improvements, innovation, and growth.
Established in 2005, OpenGate Capital is headquartered in Los
Angeles, California with a European office in Paris, France.
OpenGate’s professionals possess the critical skills needed to
acquire, transition, operate, build, and scale successful
businesses. To date, OpenGate Capital, through its legacy and fund
investments, has executed more than 30 acquisitions including
corporate carve-outs, management buyouts, special situations, and
transactions with private sellers across North America and Europe.
To learn more about OpenGate, please visit
www.opengatecapital.com.
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OpenGate Media Contact Prosek Partners Email:
Pro-opengate@prosek.com
Alanna Chaffin Email: achaffin@opengatecapital.com Telephone: +1
(310) 432-7000
OpenGate Business Development Contact Joshua Adams Email:
jadams@opengatecapital.com Telephone: +1 (310) 432-7000