August 01, 2024
Sale Represents OpenGate’s Second Full Realization of a European Business in 2024
LOS ANGELES, CA / PARIS, FRANCE – August 1, 2024 – OpenGate Capital (“OpenGate”), a global private equity firm, announced today that it has completed the sale of Fiven, a worldwide leading producer of Silicon Carbide (“SiC”) grains and powders, to Kymera International, a portfolio company of Palladium Equity Partners, LLC. Terms of the transaction were not disclosed. OpenGate acquired Fiven in 2019 through a corporate carve-out from Saint-Gobain and the business grew in profitability under the guidance of OpenGate’s Operations team. Growth initiatives included:
LOS ANGELES, CA / PARIS, FRANCE – August 1, 2024 – OpenGate Capital (“OpenGate”), a global private equity firm, announced today that it has completed the sale of Fiven, a worldwide leading producer of Silicon Carbide (“SiC”) grains and powders, to Kymera International, a portfolio company of Palladium Equity Partners, LLC. Terms of the transaction were not disclosed. OpenGate acquired Fiven in 2019 through a corporate carve-out from Saint-Gobain and the business grew in profitability under the guidance of OpenGate’s Operations team. Growth initiatives included:
- Navigating a complex carve-out, which required, most notably, setting-up standalone support functions, legal entities and new supply agreements;
- Improving sales mix, with a specific focus on specialty products, including high-purity silicon carbide for semiconductors, Li-on batteries and defense applications;
- Implementing a value-based pricing across the customer portfolio;
- Developing a clear ESG roadmap to ensure Fiven’s best-in-class industry positioning.
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:
OpenGate Media Contacts:
Prosek Partners
Email: Pro-opengate@prosek.com
Alanna Chaffin
Head of Investor Relations & Communications
Email: AChaffin@opengatecapital.com
Telephone: +1 310-432-7000
OpenGate Origination Contact:
Joshua Adams
Partner
Email: jadams@opengatecapital.com
Telephone: +1 310-432-7000