OpenGate Capital Realizes Legacy Investment in Benvic

Sale of European PVC Compounder Follows Three and a Half Years of
Operational Improvements

LOS ANGELES–(BUSINESS WIRE)–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.

Contacts

OpenGate Media Contacts
Alanna Chaffin, +1 (310) 432-7000
[email protected]
or
Sitrick
& Company
Mike Sitrick, (310) 788-2850
[email protected]
or
OpenGate
Business Development Contact
Joshua Adams, +1 (310) 432-7000
[email protected]

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