LOS ANGELES & PARIS – (COMMERCIAL THREAD) –OpenGate Capital, a global private equity firm, today announced that its holding company, SMAC, one of France’s leading providers of waterproofing and building envelope solutions, has completed the full exit of its division from manufacturing, Industry, with the sale of its Resins business unit to MAPEI, an Italian leader in the production of adhesives and chemicals for the construction industry. The Resins business unit includes the resin manufacturer Resipoly and Services and the installation specialist Eurosyntec. Terms of the deal were not disclosed.
This latest sale completes SMAC’s exit from its manufacturing division, in line with its strategy of refocusing on its core work business (“Works”), focused on waterproofing, cladding, energy renovation and maintenance of building systems. building envelope. The exit of Resins follows previously announced sales of the Skydome and Essemes Services businesses, sold to Kingspan Light + Air in April 2021, and AXTER, the membranes division, sold to IKO in March 2021. All three businesses were held under the division of manufacture of SMAC. , Industry.
Julien Lagrèze, Partner of OpenGate Capital and Head of Europe commented: “The sale of the last division within Industry is fully in line with our initial investment thesis for SMAC. We are pleased to partner with MAPEI on this transaction and remain excited about SMAC’s trajectory and continued strong performance in a more focused product offering.
SMAC CEO Franck Davoine said: “With the completion of this final sales process, we will continue to focus on large-scale works projects in an environmentally friendly manner for the benefit of our customers. . ”
SMAC is one of the leaders in waterproofing and facades, present in metropolitan France, in the overseas departments, in Morocco (Sofima) and in South America (Reali). The company relies on 2,300 employees and a network of 60 profit centers in France and carries out more than 10,000 projects each year.
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. Founded in 2005, OpenGate Capital is headquartered in Los Angeles, California, with a European office in Paris, France. OpenGate professionals have the essential skills needed to acquire, transition, operate, build and scale successful businesses. To date, OpenGate Capital, through its historical and fund investments, has completed more than 30 acquisitions, including company splits, corporate buyouts, special situations and transactions with private sellers in America. North and Europe. To learn more about OpenGate, please visit www.opengatecapital.com.