Portfolio

With a focus on corporate carve-outs, management buy-outs, and special situations in the lower middle market, OpenGate Capital maintains a diverse global portfolio spanning industries and verticals.

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OpenGate Capital

Los Angeles, CA, USA

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OpenGate Capital

Paris, France

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Alfatherm

Alfatherm is the fourth largest European PVC film manufacturer focused on the production and sale of rigid, semi-rigid and flexible PVC films.

Highlights

  • Employs approximately 320 people through its two facilities in Italy.
  • Established more than 50 years ago, Alfatherm products are concentrated across five main business units including surface decorations, capsules and sleeves, packaging, technical products and stationery.
  • Acquired from a private seller.

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Investment Date

June 2016

Industry

Packaging

Transaction Type

Private Seller

Investment Status

Current, Fund I

Geography

Europe

Acquired from

Private seller

Aluminium France Extrusion

Aluminium France Extrusion is a highly specialized manufacturer of extruded aluminium profiles.

Highlights

  • Employs more than 350 across two sites in France.
  • The business covers the entire spectrum of manufacturing aluminium profiles from extrusion to downstream operations, serving the building and construction, transportation, and industrial and infrastructure sectors.
  • Acquired from Constellium
Investment Date

June 2013

Industry

Industrials / Building Products

Transaction Type

Corporate Carve-out, Cross-border

Investment Status

Current

Geography

France

A former division of

Benvic

Benvic® is a leading PVC compounder that develops, produces and markets high quality, innovative PVC-based solutions.

Highlights

  • Benvic employs more than 200 people and has operations in France, Italy, and Spain.
  • Benvic powders and compounds are utilized across a wide range of end-applications.
  • Acquired from Solvay
  • Sold to InvestIndustrial December 2017

View Case Study

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Investment Date

June 2014

Industry

Chemical Products

Transaction Type

Corporate Carve-out, Cross-border

Investment Status

Realized

Geography

Europe

A former division of
solvay-logo

Bois & Matériaux

Bois & Matériaux is one of the top three, business-to-business distributors of building materials in France and the second largest in Northern France.

Highlights

  • Bois & Matériaux has two established brands: Réseau Pro and Panofrance.
  • Bois & Matériaux distributes building materials to more than 12,000 trade customers in the residential market, evenly split between new-build and renovation projects.
  • Bois & Matériaux is an important intermediary between a large number of suppliers and a wide, diffused customer base by providing a large inventory of products across many conveniently located sites across Northern France.
  • Bois & Matériaux is headquartered in Rennes, France, generates more than €600 million in revenue, operates from 138 sites, and has 2,200 employees.
  • Acquired from Wolseley plc  March 7, 2016

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Investment Date

March 2016

Industry

Building Products

Transaction Type

Corporate Carve-out, Cross-border

Investment Status

Current, Fund I

Geography

France

A former division of

ENERGI Fenestration Solutions

ENERGI is a manufacturer of rigid and cellular vinyl window and patio door profiles, as well as other vinyl products used in a variety of applications.

Highlights

  • Employs more than 900 people through its operations in Canada and the United States.
  • Founded over 40 years ago, ENERGI holds strong market positions in both Canada and the US.
  • Acquired from Axiall Corporation.

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Investment Date

April 2016

Industry

Building Products

Transaction Type

Corporate Carve-out, Cross-border

Investment Status

Current, Fund I

Geography

North America

A former division of

EverZinc

EverZinc is a global producer of specialty, zinc-based chemicals.

Highlights

  • Employs more than 500 people across its operations in Belgium, The Netherlands, Norway, China and Malaysia.
  • Products are used in a variety of applications including anti-corrosion paints, tires, pharmaceutical chemicals, ceramics, glass, sunscreen and other products.
  • Acquired from Umicore S.A.

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Investment Date

November 2016

Industry

Specialty Zinc, Chemicals

Transaction Type

Corporate Carve-out, Cross-border

Investment Status

Current, Fund I

Geography

Belgium

A former division of

Fichet Security Solutions

Fichet is a leading provider of security solutions including: Electronic Security, Entrance Security, Cash Handling, Safe, Vaults, and Security Services.

Highlights

  • Ranked #1 in Security Doors & Partitions, and Safes & Vaults; #3 in Electronic Security and Cash Management in France
  • Consists of two production sites and 12 sales branches in France and a sales office in Luxembourg and Belgium
  • Approximately 930 full-time employees across 3 countries
  • Acquired from Gunnebo Ab
Investment Date

December 2018

Industry

Industrials

Transaction Type

Cross border, corporate carve-out

Investment Status

Current, Fund I

Geography

Europe

Acquired from

Fleurus Presse

Fleurus Presse is a provider of media content and high quality publications to millions of children aged 1-14.

Highlights

  • Fleurus Presse is a multi-title publisher of children’s and other special interest publications and is headquartered in Paris, France.
  • In 2011 and 2012, OpenGate acquired two accretive publications and integrated them into Fleurus: “Arts Magazine,” and “Réponse à Tout!”
  • Acquired from Le Monde in 2009
  • Sold to Unique Heritage Media in May, 2015
Investment Date

June 2009

Industry

Media

Transaction Type

Corporate Carve-out

Investment Status

Realized

Geography

France

A former division of

Fusion Paperboard

Fusion Paperboard was a manufacturer of recycled paper products.

Highlights

  • Fusion Paperboard produced thin, rigid board of 100% recycled fibers used to make cartons or boxes for cereal, frozen food, and other consumer products.
  • Acquired from Cascades in 2011
  • Sold July 2014
Investment Date

June 2011

Industry

Paper & Packaging

Transaction Type

Corporate Carve-out, Cross-border

Investment Status

Realized

Geography

USA

A former division of

Gabriel

Gabriel is an aftermarket and original equipment manufacturer of shock absorbers and struts.

Highlights

  • Gabriel has over 1,400 employees in the U.S., Canada and Mexico.
  • Gabriel products are used in a variety of applications (commercial, industrial and recreational vehicle) under the Gabriel® (U.S. & Canada) and GRC® (Mexico) brand names.
  • The company originated the world’s first automotive shock absorber, “The Snubber,” in 1907, and continues today to be a leader in the engineering, design, development and production of shock absorbers in North America.
  • The company maintains engineering, manufacturing, warehouse, sales and management offices throughout North America including Troy, Michigan; Chickasha, Oklahoma; Brentwood, Tennessee; and Queretaro, Mexico.
  • Acquired from Arvin Meritor
  • Sold to MAT Holdings, Inc., December, 2012.

View Case Study

Investment Date

June 2009

Industry

Automotive

Transaction Type

Corporate Carve-out

Investment Status

Realized

Geography

USA

A former division of

Getronics LATAM

Getronics LATAM is an integrated ICT products and services provider for the large enterprise market.

Highlights

  • Getronics has more than 2,000 employees serving its operations in Mexico, Colombia, and Venezuela.
  • Getronics specializes in workspace management services, connectivity, data centers, and consultancy services.
  • The business is highly specialized and maintains certifications with Cisco, Microsoft, Dell, and ITL.
  • Acquired from KPN in 2012 and sold to Southern Cross Group December 2016

View Case Study

Investment Date

May 2012

Industry

IT Services

Transaction Type

Corporate Carve-out, Cross-border

Investment Status

Realized

Geography

LATAM

A former division of

Golden Guernsey

Golden Guernsey produces and distributes high quality milk and other dairy products.

Highlights

  • Golden Guernsey distributes dairy products to schools, grocery stores, convenience stores and major retailers throughout the Upper Midwest region of the United States.
  • Acquired from Dean Foods
  • Sold January 2013
Investment Date

September 2011

Industry

Food & Beverage

Transaction Type

Corporate Carve-out

Investment Status

Realized

Geography

USA

A former division of

Hamilton Scientific

Hamilton Scientific designed, manufactured, and installed laboratory furniture, fume hoods and epoxy resin tops.

Highlights

  • Hamilton products were sold under three brand names; Hamilton, Advanced Laboratory Concepts (ALC) and Collegedale to customers in the academic, government, research, pharmaceutical and biotechnology markets.
  • Acquired October 2012 from Thermo Fisher Scientific
  • Sold March 2015
Investment Date

October 2012

Industry

Specialty Manufacturing

Transaction Type

Corporate Carve-out

Investment Status

Realized

Geography

USA

A former division of

Hufcor

Hufcor is the most installed brand of operable partitions worldwide.

Highlights

  • Hufcor offers customers a global solution through dedicated manufacturing facilities in the United States, Australia, New Zealand, Germany, China and Malaysia.
  • The company’s products have been installed in hotels, convention centers, schools, universities and places of worship throughout the world.
  • Acquired September 2017 from the private owner.

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Investment Date

September 2017

Industry

Building Products

Transaction Type

Private Seller

Investment Status

Current, Fund I

Geography

USA

Acquired from

Private seller

IVY Group

IVY Group produces and distributes rigid and flexible products.

Highlights

  • Headquartered in France, IVY Group (formerly known as Kem One Innovative Vinyls) employs 1,200 people.
  • The business operates mainly under two names, Resinoplast and Alphacan, and has 13 plants across Europe, Asia and Mexico, and serves a global customer base.
  • IVY Group products are used in a variety of applications across a multitude of industries including automotive, construction, furnishings, electrical, packaging, paramedical, healthcare, industrial equipment and others.
  • Acquired from Klesch July 31, 2015

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Investment Date

July 2015

Industry

Chemical Products

Transaction Type

Corporate Carve-out

Investment Status

Current

Geography

Global / HQ France

A former division of

Jøtul

Jøtul is a Norwegian limited company that manufactures cast iron stoves and fireplaces.

Highlights

  • Headquartered in Fredrikstad, Norway, the company has approximately 540 full-time employees.
  • Products include freestanding wood, gas and cast-iron stoves under the brand names Jøtul, Scan, Atra, and Ild, which are sold in 45 countries across Europe, North America and Asia primarily through networks of exclusive and multi-brand specialty dealers.
  • Jøtul was founded in 1853 and is one of the most well-known and respected brands globally in the home comfort heating industry.

View Case Study

Visit Website

Investment Date

February 2018

Industry

Consumer

Transaction Type

Special Situation

Investment Status

Current, Fund I

Geography

Norway

A former division of

Kem One

Kem One SAS is the second largest producer of PVC in Europe.

Highlights

  • Kem One is headquartered in Lyon, France and employs approximately 1,300 people across its production facilities in France and Spain, and sales offices in Germany and Italy
  • Kem One SAS offers chlorochemicals and vinyl solutions for application in various sectors including construction, agriculture and healthcare.
  • Acquired from Klesch Group

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Investment Date

February 2014

Industry

Chemicals

Transaction Type

Corporate Carve-out

Investment Status

Realized

Geography

Global / HQ France

A former division of

Kotkamills

Kotkamills manufactures high-quality specialty papers and wood-based products for the laminate, plywood, construction and magazine industries around the world.

Highlights

  • Kotkamills is headquartered in Kotka, Finland and employs more than 500 people.
  • Kotkamills’ heritage dates back to 1872 and is recognized for its excellence in production, customer service, research, product development, and sustainability efforts.
  • Recognized for products such as the Absorbex, Imprex and Solaris brands.
  • Acquired from StoraEnso
  • Sold to MB Funds, March 2015

View Case Study

Visit Website

Investment Date

July 2010

Industry

Paper & Packaging

Transaction Type

Corporate Carve-out

Investment Status

Realized

Geography

Finland

A former division of

Mersive Technologies

Mersive transforms ordinary meeting spaces by enabling multiple users to share content collaboratively from laptops and mobile devices to in-room displays. Mersive delivers innovative software-based products that leverage commodity hardware and existing enterprise network infrastructure.

Highlights

  • Mersive is headquartered in Denver, Colorado and employs more than 50 people.
  • Recognized for its meeting collaboration hardware / software solution under the branded name “Solstice.”
  • Acquired December 2017 from the private owner.

View Case Study

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Investment Date

December 2017

Industry

Technology

Transaction Type

Private Seller

Investment Status

Current, Fund I

Geography

USA

Acquired from

Private seller

Nakan

NAKAN is a global leader in PVC, TPE and TPO compounds for selected markets: Automotive Industry, Healthcare, Packaging, Consumer Goods, Building & Construction.

Highlights

  • NAKAN was one of three business lines within Ivy Group, including Omniplast and Alphacan.
  • OpenGate identified NAKAN as a leader in PVC compounding with world leadership in automotive applications and a strong position in Medical, Building & Construction, and other applications.
  • With over 620 employees across eight plants, a sales office, a research facility, and headquarter offices, NAKAN has earned the reputation of having a unique portfolio of technologies which allow the Company to access major customers all over the world and deliver bespoke products designed for customers’ specific needs.

View Case Study

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Investment Date

July 2015

Industry

Industrials

Transaction Type

Corporate Carve-Out

Investment Status

Realized

Geography

Europe

Acquired from

Nicole Farhi

Nicole Farhi is a lifestyle brand of womenswear Products.

Highlights

  • Nicole Farhi was created in 1982 out of the collaboration of the designer herself and the French Connection Group, for which Miss Farhi was working as a designer in the 1970′s.
  • Established as a luxury fashion brand with a loyal global following, Nicole Farhi products can be found at upscale stores around the world.
  • Acquired from French Connection
  • Sold to Kelso Place Asset Management, January, 2012.

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Investment Date

July 2010

Industry

Fashion Retail

Transaction Type

Corporate Carve-out

Investment Status

Realized

Geography

UK

A former division of

NorPaper

NorPaper Avot-Vallée is a leading producer of white top testliner paper.

Highlights

  • NorPaper is headquartered in northern France, the business employs over 200 people.
  • NorPaper is a leading producer of white top testliner paper that is sold to European packaging manufacturers.
  • In 2015, OpenGate completed an accretive add-on acquisition of a complementary paper business from DS Smith and has integrated the business into NorPaper, expanding production to 200kT, and thereby making NorPaper the number one independent testliner paper producer in France and among the top five in Europe.
  • Acquired from Cascades.
  • June 21, 2018 NorPaper Group was sold to Gemayel & Chaoui Industriel Group

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Investment Date

February 2011

Industry

Paper & Packaging

Transaction Type

Corporate Carve-out, Cross-border

Investment Status

Realized

Geography

France

A former division of

Ommic

OMMIC is a specialist in the development and production of semiconductors.

Highlights

  • OMMIC is a specialist in the development, production and industrialization of materials, technologies and integrated circuits based on GaAs and InP.
  • OMMIC’s Foundry Service and Standard products are used in fiber optic interfaces, microwave and millimeter wave applications in the fields of Telecommunications, Space and Defense and Epitaxial Wafer Supply.
  • Acquired from Philips Group of Companies
  • Sold to Egalux SA Luxembourg July, 2008

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Investment Date

June 2007

Industry

Semiconductor

Transaction Type

Corporate Carve-out, Cross-border

Investment Status

Realized

Geography

France

A former division of

PennySaver USA

PennySaver was a weekly, local, print and digital advertising publication.

Highlights

  • PennySaver served both local and national advertisers targeting specific communities throughout Southern California.
  • Acquired from Harte-Hanks
  • Sold May 2015

Visit Website

Investment Date

September 2013

Industry

Media

Transaction Type

Corporate Carve-out

Investment Status

Realized

Geography

USA

A former division of

Power Partners

Power Partners manufactures overhead, round tank, and submersible distribution transformers and adsorption chillers to customers in the US, Mexico and in the Caribbean.

Highlights

  • Power Partners is headquartered in Athens, Georgia and employs 330 people
  • Founded in 1958, Power Partners has produced over 8.5 million transformers and is a highly regarded name in the transformer industry.
  • Power Partners products are used in a variety of applications including power lines, factories, airbrake systems in railcars, carbon-neutral buildings, retail stores, businesses, and in the construction of steel framed buildings.
  • Acquired from PPI Inc

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Investment Date

January 2016

Industry

Power Transformers

Transaction Type

Private

Investment Status

Current, Fund I

Geography

USA

A former division of

Profialis

Profialis is a major supplier of extruded PVC window and door profiles to the building and construction industry in Europe.

Highlights

  • Profialis has more than 300 employees in its production facilities in Clerval, France and sales offices in Poland and Hungary
  • Profialis divides its activities in three groups: fenestration, shutter systems and other interior and exterior finishing products and services.
  • Acquired from Tessenderlo Group

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Investment Date

January 2013

Industry

Building Products

Transaction Type

Corporate Carve-out, Cross-border

Investment Status

Current

Geography

France

A former division of

Sopho

Sopho is a telecommunications solutions provider to enterprises in Brazil.

Highlights

  • Sopho was integrated into the operations of Getronics Latin America
  • Acquired from Philips
  • Realized February 2016

Visit Website

Investment Date

March 2010

Industry

IT Hardware

Transaction Type

Corporate Carve-out, Cross-border

Investment Status

Realized

Geography

Brazil

A former division of

STAR Solutions

STAR Solutions is a leading supplier of unique IP based wireless CDMA/GSM) mobile solutions.

Highlights

  • STAR Solutions focuses on emerging markets, offering significant OpEx savings to mobile operators.
  • STAR Solutions also specialize in custom applications for Cruise ships, Military, Emergency Response/Disaster Recovery, Enterprise, Wireless Local Loop and Rural Mobile applications.
  • Acquired from UTStarcom
  • Sold to STAR Solutions Management June, 2009

Visit Website

Investment Date

July 2008

Industry

Wireless Mobile

Transaction Type

Corporate Carve-out, Cross-border

Investment Status

Realized

Geography

Canada

A former division of

TVGuide Magazine

TVGuide Magazine is one of the most popular weekly magazines in the United States.

Highlights

  • TVGuide Magazine is read by more than 20 million weekly readers and is the premier source for entertainment news, guidance, and information about America’s most popular leisure time activity.
  • From behind-the-scenes looks at broadcast, cable, and syndicated shows and their stars and characters; to sneak peeks at television’s most intriguing plotlines, TVGuide Magazine has every corner of the television medium covered.
  • Acquired from Rovi
  • Sold to NTVB Media October, 2015

View Case Study

Visit Website

Investment Date

December 2008

Industry

Media

Transaction Type

Corporate Carve-out

Investment Status

Realized

Geography

USA

A former division of

Zodiac

Zodiac Recreational is the world’s leader in the design, manufacturing and distribution of inflatable and Rigid Inflatable Boats.

Highlights

  • Zodiac Recreational has an extensive range of products and related boat accessories all sold under the Zodiac, Bombard and Avon brand names.
  • Acquired 12/2012 from Zodiac Marine & Pool
  • Sold June 2015

Visit Website

Investment Date

December 2012

Industry

Marine Products

Transaction Type

Corporate Carve-out

Investment Status

Realized

Geography

France

A former division of

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Case studies

Benvic

Benvic is a leading PVC compounder that develops, produces, and markets highly customized, high-quality, innovative PVC-based thermoplastic solutions.

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