Business Wire

OpenGate Capital Realizes Legacy Investment in Benvic

Share

OpenGate Capital, a global private equity firm, announced today that it has realized its legacy, pre-fund investment in Benvic through a sale to Investindustrial, a leading European mid-market investment firm. Terms of the transaction were not disclosed.

With operations in France, Italy and Spain, Benvic is one of Europe’s leading PVC compounders that develops, produces and markets highly customized, innovative PVC-based thermoplastic solutions in the form of powders and compounds that are utilized across a wide range of rigid and flexible end-applications including building and construction, automotive and aerospace, cabling, pharmaceutical, packaging and fluid transport.

Andrew Nikou, founder and CEO of OpenGate Capital, stated, “Since acquiring Benvic in 2014 from Solvay, our European operations team worked with Benvic’s management to innovate and improve the overall business. As a privately owned, pre-fund investment, I am incredibly proud of the accomplishments that we achieved with the business.”

Sebastien Kiekert Le Moult, Partner at OpenGate Capital, oversaw the sales process and stated, “As far back as 2012, OpenGate developed a strategy to pursue investments in the chemical space and we identified several attractive businesses in Europe including Benvic. We worked with Solvay for two years to complete the transaction and today we thank the entire Benvic team for their work that made this transformation possible. We are confident that Investindustrial will be the right partner to drive the next phase of growth for Benvic.”

OpenGate Capital acquired Benvic in June 2014 prior to raising its first institutional fund in 2016. The acquisition of Benvic was the third PVC business acquired by the firm, including Kem One SAS, a PVC compounder, acquired through a take-over bid process in January of 2014. Kem One was followed by The Ivy Group, which included Nakan. Combined, the revenues of OpenGate’s PVC pre-fund businesses totaled more than USD$1.5 billion at acquisition.

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.

To view this piece of content from cts.businesswire.com, please give your consent at the top of this page.

Contact information

OpenGate Media Contacts
Alanna Chaffin, +1 (310) 432-7000
achaffin@opengatecapital.com
or
Sitrick & Company
Mike Sitrick, (310) 788-2850
Mike_Sitrick@sitrick.com
or
OpenGate Business Development Contact
Joshua Adams, +1 (310) 432-7000
jadams@opengatecapital.com

About Business Wire

For more than 50 years, Business Wire has been the global leader in press release distribution and regulatory disclosure.

Subscribe to releases from Business Wire

Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.

Latest releases from Business Wire

LambdaTest Launches The Phoenix Project, an Employee Resource Group for Women28.3.2024 18:00:00 EET | Press release

LambdaTest, a leading cloud-based unified testing platform, announced the launch of The Phoenix Project, an Employee Resource Group (ERG) dedicated to supporting and promoting the success of its female employees. “LambdaTest is committed to fostering a diverse, inclusive, and equitable workplace where all employees feel valued and empowered to reach their full potential,” said Chandini Chopra, VP of People and Culture at LambdaTest. “The Phoenix Project is a critical step towards achieving this goal by providing a platform for professional development, networking, and mentorship, especially for our women employees.” The Phoenix Project Aims To: Offer professional development workshops, networking opportunities, and dedicated time off for women to participate in ERG initiatives. Provide mentorship programs connecting senior female employees with mentees. Promote leadership development among women within the company. Create a sense of community for women in the workplace. Leadership and

The reopening of the Yokohama Museum of Art adds another innovative and distinctive venue for events in Yokohama28.3.2024 18:00:00 EET | Press release

After extensive renovations, the iconic Yokohama Museum of Art has reopened its doors to visitors from all over the world. The museum’s reopening paves the way to new and closer collaboration with international events in Yokohama. This extraordinary venue is the ideal setting for a one-of-a-kind gathering, in part, supported by the Yokohama Convention & Visitors Bureau (hereinafter YCVB). The Yokohama Museum of Art Founded in 1989, the Yokohama Museum of Art collects over 14,000 works of art that reflect the many facets of life in Yokohama—past, present, and future. The reopening of the museum coincides with the Yokohama Triennale, an international exhibition featuring contemporary artists whose decentralized exhibits turn the entire metropolis into an art museum. The 8th Yokohama Triennale is being held from March 15 to June 9, 2024, with the Yokohama Museum of Art being a pivotal venue for the exhibition. With the museum firmly back on the map as Yokohama’s leading artistic venue, YC

Eight new sustainability-themed experiences—exclusive to Yokohama—for convention participants28.3.2024 18:00:00 EET | Press release

In a survey conducted by Yokohama Convention & Visitors Bureau (hereinafter YCVB), many convention attendees expressed particular interest in Yokohama’s culture, sightseeing spots, and local cuisine. In response, YCVB has developed eight new Yokohama Tours for event attendees to enjoy during their free time in Yokohama, keeping in line with our ethos of sustainability. Noge Area Bar-Hopping Tour, complete with guide Known affectionately by locals as Yokohama’s kitchen, Noge is a bustling nightlife spot that is home to over 600 izakaya (Japanese-style pubs). A knowledgeable local guide will lead participants to all the hidden gems in Noge, where they can indulge in distinctive, delicious pub-style food and drink. With easy on-foot accessibility, participants can rest assured this fun night out won’t impact their carbon footprint. Soto Zen Tour of Sojiji, head temple of the Soto Zen school As a prominent Zen sect in Japan, Soto Zen provides one of the best Zen wellness experiences. Durin

Nordson EFD Releases New 3-Axis Automated Fluid Dispensing Systems28.3.2024 17:00:00 EET | Press release

Nordson EFD , a Nordson company (NASDAQ: NDSN) and leading precision fluid dispensing systems manufacturer is proud to announce the new GVPlus and PROX families of automated fluid dispensing products. Both robotic solutions share a focus on motion, workspace, repeatability, payload, setup, and vision technology enhancements. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20240305726899/en/ The GV Series offers market-leading dimensional positional accuracy and deposit placement repeatability. (Photo: Business Wire) The new GVPlus automated fluid dispensing solution offers improved repeatability, bigger payloads with simplified setup requirements, and superior vision capabilities. Repeatability is now best-in-class at 8 μm, improving repeatability to ±0.008 mm. Setting up the robot is easier due to a new dual mounting flange that enables a tool payload of up to 4.5 kg (10 lbs). When paired with the working area of 400 mm x 400

Tigo Energy Headquarters Receives 90kW of Optimized Solar from Long-Time Installer Partner28.3.2024 16:00:00 EET | Press release

Tigo Energy, Inc. (NASDAQ: TYGO), a leading provider of intelligent solar and energy software solutions, today announced the installation and commissioning of a rooftop solar system at its headquarters in California. The system was designed and deployed by Tigo installer partner, Laibach Solar, and has averaged 5% Reclaimed Energy since it was commissioned. Laibach Solar is an employee-owned solar installer in Northern California dedicated to combining high-quality components with unbeatable pricing. It has been a valued installation partner for Tigo since 2018. The installation now contributes to the growth of U.S. corporate solar adoption, which was 14% of the U.S. Solar Market as of 2022, according to the Solar Energy Industries Association. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20240328503393/en/ The system was designed and deployed by Tigo installer partner Laibach Solar and has averaged 5% Reclaimed Energy since

In our pressroom you can read all our latest releases, find our press contacts, images, documents and other relevant information about us.

Visit our pressroom
HiddenA line styled icon from Orion Icon Library.Eye