NAKAN is a global leader in PVC compounding solutions for selected markets, including Automotive Industry, Healthcare, Packaging, Consumer Goods, and Building & Construction. Headquartered in Reims, France, NAKAN has eight production facilities located in China, France, Germany, Italy, Japan, Mexico, Spain and Vietnam, as well as a world-class research facility in France and application laboratory in the United States. 


July 31, 2015

Acquired from

Klesch Group


Chemical Products


Reims, France

Transaction type

Corporate Carve-Out


January 2, 2019

Sold To

Westlake Chemical Corporation

Transaction 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.

Investment Merits

  • Market-leading position in Slush PVC for automotive applications and strong position in Medical, Building & Construction, and Consumer Goods
  • Profitable business with worldwide industrial and commercial footprint
  • Increased focus on and expanded selection of most rewarding products while separating from its lesser-performing non-core sister companies
  • Downstream division of a major PVC producer (KemOne) requiring supply separation, and carve-out of smaller sister companies (Alphacan and Omniplast)

Operational Improvements

  • Reorganized group by business segments, rather than by geographies
  • Select changes made in management team
  • Streamlined the supplier portfolio
  • Increased focus on innovation and launch of new products
  • Spearheaded expansion initiatives in Asia
  • Separation from Alphacan and Omniplast


On January 2nd, 2019, the business was sold to Westlake Chemical Corporation. At the time of NAKAN’s realization, the Company had experienced a 65% growth in EBITDA and a 16% increase in revenue.