June 06, 2017
Guimier, a Manufacturer of Wood Moldings, Sold to Groupe Lababois
PARIS, FRANCE – June 2, 2017 – Bois & Matériaux, a leading distributor of building materials to the construction industry in Northern France, announced that it has completed the sale of Guimier, a manufacturer of wood moldings, to Groupe Lababois. For over two years, Bois & Matériaux has focused on implementing a roadmap of improving the two flagship brands of the business: RESEAU PRO and PANOFRANCE. Guimier, a niche market business, was not integral to Bois & Matériaux’s core business.
Mr. Yves Martin, President of Bois & Matériaux, made the following statement, “Guimier was sold to an owner better suited for monitoring its future development. I wish to express my gratitude for the dedication of Guimier’s associates and thank them for their involvement. The consolidation of Bois & Matériaux’s two pillars, Reseau Pro and Panofrance, is coming to completion and we are in a better position to benefit from the recovery in the construction market. We are also monitoring opportunities for external growth that could enhance our offerings to our customers.”
Guimier has revenues of approximately €12 Million and employees 37 people.
Mr. Denis Labadens, General Manager of Groupe Lababois stated, “We are happy and proud to preside over the future of this company, which was created in 1906, and even more so given that this choice was supported by whole staff whose trust we are grateful for.”
Le Groupe Lababois, created in May 2001, has for the last three years begun a policy of diversifying in mid to top-range products with high added value to pursue its development. Once Guimier’s regrowth is achieved, Groupe Lababois will develop a consolidated turnover of €55 million, and will have 12 branches, one panel processing workshop, one wood treatment workshop, and one mold manufacturing workshop.
OpenGate Capital acquired Bois & Matériaux from Wolseley Plc in March 2016. OpenGate Capital is a global private equity firm headquartered in Los Angeles, California with a European office in Paris, France.
About OpenGate Capital
OpenGate Capital is a global private equity firm specializing in the acquisition and operation of businesses seeking revitalization through growth and operational improvements. Established in 2005, OpenGate Capital is headquartered in Los Angeles, California and has a European office in Paris, France. OpenGate’s professionals possess the critical skills needed to acquire, transition, operate and build successful businesses. To date, OpenGate Capital has executed more than 40 transactions ranging from corporate divestitures to turnaround acquisitions, industry consolidations and other special situation investments. For more information, please visit www.opengatecapital.com.
About Bois & Matériaux
Bois & Matériaux is a fundamental player in the construction material trade in France. With annual turnover of more than €600 million in 2016 and 2,300 employees, the company today has 136 points of sale under the Réseau Pro and Panofrance brands. Greater information regarding Bois & Matériaux can be obtained by visiting www.boisetmateriaux.com.