Waterproofing and Building Envelope Investment is Second Corporate
Carve-out Completed by OpenGate in May of 2019
LOS ANGELES & PARIS–(BUSINESS WIRE)–OpenGate
Capital, a global private equity firm, announced today that it has
acquired SMAC, a global manufacturer of waterproofing and building
envelope solutions, from Colas Group (EPA : RE). Financial terms were
not disclosed.
SMAC operates across two divisions: Travaux and Industrie. SMAC Travaux
specializes in waterproofing solutions typically utilized on flat roofs
structures and facades. SMAC Industrie manufactures bituminous
membranes, skylights and resins. As one of the largest players in the
segment, SMAC has a dedicated service and maintenance business, SMAC
Assistance Service, and Essemes Services, focused on fire safety
maintenance. SMAC is headquartered in Issy-les-Moulineaux and has
operations across France, Morocco, and South America and is supported by
3,400 employees.
Founder and CEO of OpenGate Capital, Andrew Nikou, stated: “The building
and construction sector continues to present many opportunities across
Europe and North America that are well suited for OpenGate. With the
investment in SMAC, we are incredibly proud to continue building on our
strategy within the lower middle market, and we welcome the business and
its many employees into the portfolio of our second institutional fund.”
OpenGate Capital sourced the SMAC opportunity through its global
origination team led by Joshua Adams, Managing Director. From the firm’s
European office in Paris, the following team members are responsible for
negotiating and overseeing the investment: Sebastien Kiekert Le Moult,
Partner, M&A; Fabien Marcantetti, Managing Director, M&A; and Marc
Veillas, Managing Director, Operations.
The acquisition of SMAC is the second Europe-based corporate carve-out
completed within OpenGate Capital’s second institutional fund following
the earlier announcement that the firm had acquired the European silicon
carbide division, Fiven, from Saint-Gobain.
About OpenGate Capital
Founded in 2005, OpenGate Capital is a global private equity firm that
strives to acquire and optimize lower middle market businesses
throughout North American and Europe. With a strategic international
presence and a focus on corporate carve-outs and complex situations, the
firm’s expertise allows it to realize a seller’s divestiture objectives
while mitigating the risks associated with a business’s transition to
independence. OpenGate is headquartered in Los Angeles and Paris and has
a seasoned in-house team of professionals overseeing the entire
lifecycle of each investment. 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:
(310) 788-2850
OpenGate Business Development Contact
Joshua Adams
Email:
[email protected]
Telephone:
+1 (310) 432-7000
