October 17, 2023
Acquisition of West Penetone’s Military and Aerospace Carve-out Division expands IPG’s Exposure to the Highly Defensible and Resilient Aerospace and Defense Sector
ROANOKE, Virginia - October 17, 2023 — Integrity Partners Group (“IPG”), a chemical distribution platform acquired by OpenGate Capital, has acquired certain assets from West Penetone. The investment expands IPG’s value proposition and customer offerings further downstream with environmentally friendly, chemical solutions addressing the recurring, cleaning and maintenance requirements of the aerospace and defense industry. Financial terms of the acquisitions were not disclosed.
The carve-out of the assets from West Penetone will be integrated into the IPG platform and will expand IPG’s offering with new formulations, serving the growing aerospace and defense sector.
“Acquisition of the product portfolio and intellectual property from West Penetone is an important development in the growth and expansion of our business” said Darren J. Birkelbach, IPG’s Chief Executive Officer. “We are now able to serve more customers with a broader and specific offering including propriety formulations acquired from West Penetone. We are excited to build on the highly successful business with the expanded capabilities of IPG.”
About Integrity Partners Group
Integrity Partners Group is a US-based chemical distribution, blending, and tolling platform that serves customers in the industrial, food and beverage, agriculture, personal care, and coatings, adhesives, sealants, and elastomers (CASE) markets. IPG includes ChemSolv, a chemical distributor with headquarters in Roanoke, Virginia and Chemisphere, a chemical distributor with headquarters in St. Louis, Missouri. IPG was formed in 2023 and is owned by OpenGate Capital, a private equity firm.
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 has executed more than 40 platform acquisitions across North America and Europe. To learn more about OpenGate, please visit www.opengatecapital.com.
For More Information, Please Contact:
Integrity Partners Group Contact
Telephone: +1 332-217-5334