Investment Represents First Completed Acquisition Under OpenGate’s Second Institutional Fund
LOS ANGELES, CA and PARIS, FRANCE – May 15, 2019 – OpenGate Capital, a global private equity firm, announced today that it has acquired the silicon carbide division from Saint-Gobain S.A. (EPA: SGO). The business will soon be renamed Fiven A/S (“Fiven”). Financial terms were not disclosed.
Fiven is a leader in Silicon Carbide (“SiC”) grains and powders, a material that offers unique properties of hardness, thermal resistance, wear resistance, thermal conductivity and chemical inertness. Fiven products are used in a wide array of applications including metallurgy, refractory materials, filtration products and technical ceramics. Fiven has a global manufacturing footprint across Norway, Belgium, Brazil and Venezuela, and will be headquartered in Oslo, Norway. Fiven products are sold to a diverse customer base across Europe, South America, North America and Asia.
Partner at OpenGate Capital, Sebastien Kiekert Le Moult who led the transaction commented, “OpenGate’s investment in Fiven marks an exciting opportunity at a time that the business continues to benefit from its position in a fragmented market and power-related product applications which are experiencing robust growth.”
Julien Lagrèze, OpenGate Capital’s Partner based in Paris stated, “We are incredibly proud to have completed this transaction with Saint-Gobain, a highly regarded corporate transaction partner. Not only is Fiven another exciting, cross-border investment for our firm, this also represents the hallmark of OpenGate’s strategy to partner with corporations in complex, cross-border, carve-out transactions.”
Fabien Marcantetti, Managing Director at OpenGate responsible for transaction execution in Europe stated, “The transaction with Saint-Gobain reflects OpenGate’s strategy to acquire businesses that will benefit from a new owner who collaborates with management to drive the next era of growth.”
Also commenting was Marc Veillas, Managing Director at OpenGate overseeing the operations of the firm’s European investments. Veillas stated, “We are looking forward to collaborating with the team at Fiven in the years ahead and building the full potential within a well-established business.”
Fiven is the first investment completed within OpenGate Capital’s second institutional fund. The firm also signed agreements to acquire Sargent and Greenleaf from Stanley Black and Decker in the US, and SMAC from Colas Group in Europe.
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 buy-outs, 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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