Investment Represents First Completed Acquisition under OpenGate’s
Second Institutional Fund
LOS ANGELES & PARIS–(BUSINESS WIRE)–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.
Contacts
OpenGate Media Contacts
Alanna Chaffin
Email: [email protected]
Telephone:
+1 (310) 432-7000
Mike Sitrick
Sitrick & Company
Email: [email protected]
Telephone:
+1 (310) 788-2850
OpenGate Business Development Contact
Joshua Adams
Email:
[email protected]
Telephone:
+1 (310) 432-7000
