OpenGate Capital has sold Benvic Europe to InvestIndustrial
Lincoln International is pleased to announce the sale of Benvic Europe (the “Company”), a pre-fund, legacy portfolio company of OpenGate Capital, (“OpenGate”) to InvestIndustrial. Terms of the transaction were not disclosed.
Acquired by OpenGate Capital from Solvay in 2014, Benvic Europe, headquartered in France, 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. With manufacturing operations in France, Italy and Spain, Benvic Europe was the third PVC business acquired by OpenGate.
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.”
Lincoln International acted as the exclusive financial advisor to OpenGate, working closely with the Company’s management team throughout the sale process. This included providing advisory expertise and managing the preparatory, marketing, negotiation and due diligence phases of the transaction.
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