OpenGate Capital Sells Omniplast BV to Consortium of Investors

Realization of Legacy Investment Specializing in PVC Piping
Systems for the Agricultural and Greenhouse Sector

LOS ANGELES & PARIS–(BUSINESS WIRE)–OpenGate
Capital
, a global private equity firm, announced today that it has
sold Omniplast BV (“Omniplast”) to a group of European investors
composed of Reedcapital, Luigi M. Chiaraviglio, and Swiss Merchant
Corporation. Omniplast was acquired by OpenGate in 2015 through the
firm’s original, pre-fund investment in Ivy Group. Financial terms were
not disclosed.

Andrew Nikou, OpenGate Capital’s founder and CEO commented, “We believe
that Omniplast stands for global innovation in the fields of piping and
fitting systems. I am incredibly proud of the efforts of OpenGate’s
European team in the four years since acquiring Omniplast and have now
fulfilled our mandate to exit the business at an ideal time. I wish the
entire team at Omniplast an abundance of success under their new owners’
stewardship.”

The team at OpenGate Capital responsible for this investment and
realization included: Julien Lagrèze, Partner; Sebastien Kiekert Le
Moult, Partner; Marc Veillas, Managing Director; and Jonny Leppin,
Senior Vice President.

Renaud Delaage, Partner at Reedcapital said, “Omniplast has a tremendous
management team that will benefit greatly from the operational resources
and entrepreneurial spirit that we will provide. We have a clear path to
grow this business organically and through add-on acquisitions.”

Luigi M. Chiaraviglio added: “We are excited to contribute to the growth
of this niche leader, whose products are exported globally, into its
next phase of development.”

“We brought together investors sharing our philosophy of long-term value
creation,” stated Filippo Sciorilli Borrelli, Managing Director of Swiss
Merchant Corporation. Borrelli went on to say, “We are eager to start
this journey.”

Luigi M. Chiaraviglio and Renaud Delaage led the transaction. Filippo
Sciorilli Borrelli led the equity syndication for Swiss Merchant
Corporation and played a key role in the execution.

Omniplast has earned a strong reputation and a loyal customer base
within the agricultural and greenhouse sector. The business produces and
distributes pressure and non-pressure PVC piping systems for the
transportation of gases and fluids. Within its diverse product
portfolio, Omniplast has developed five quality standards from
three-layer non-pressure pipes, to irrigation and KIWA pressure pipes,
to pipe-related specialties. The business is supported by forward
integrated logistical solutions enabling efficient packaging and
transportation. Headquartered in Veghel, The Netherlands, Omniplast has
approximately 60 employees.

OpenGate Capital acquired Omniplast through its legacy, pre-fund
portfolio as one of three businesses within Ivy Group. At acquisition,
Omniplast had two entities in The Netherlands and Germany, which were
separated in 2018 as part of a strategy to maximize each entity’s value.
The German business, which specializes in PVC pipes for the residential
market, was not included in the transaction.

The realization of Omniplast follows OpenGate Capital’s announcement
that NAKAN, another division within Ivy Group, had been sold to Westlake
Chemical Corporation in January of 2019.

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.

About Reedcapital

Reedcapital is a private investment firm focused on the acquisition,
transformation and development of lower-middle-market businesses. The
firm invests in both performing and underperforming companies
to create long term sustainable value. Typical investment opportunities
are corporate divestitures and carve-out, complex situations and
underperforming businesses. Reedcapital and its partners have been
involved in over 30 transactions ranging from corporate divestitures,
turnaround acquisitions, industry consolidations and other special
situations investments across a wide array of industries and
geographical markets. More information available on www.reedcapital.fr.

About Luigi M. Chiaraviglio

Luigi has been a private equity investor for more than 15 years, with
Compass Partners in London first and Investindustrial in Milan, Lugano
and New York later and has completed over 10 transactions for a value in
excess of Eur 2bn including buyouts or expansion capital deals,
restructurings, refinancing and exits and has been on the board of
several companies in Europe and the USA. He is the Managing Director of
Vista Investors, an investment firm operating through a multi-family
office model, focusing on repositioning and expanding lower mid-market
businesses or corporate group divisions. For more information please
visit www.vista-investors.com.

About Swiss Merchant Corporation SA

Swiss Merchant Corporation(“SMC”), founded in 1990, is a corporate
finance advisory boutique based in Lugano, Switzerland. SMC specializes
in offering tailor made services for its clients aimed at long-term
value creation. SMC’s one-stop-shop approach is designed to fulfill
clients’ needs. SMC started as a private equity firm, successfully
managing four investment funds from 1989 until 2015. Whilst maintaining
an active role in direct investments and club deals, SMC has leveraged
its experience as an advisor to its portfolio companies to focus on
helping clients make informed financial decisions. More information
available on www.swissmerchantcorporation.ch.

Contacts

OpenGate Media Contacts
Alanna Chaffin
Email: [email protected]
Telephone:
+1 (310) 432-7000

Mike Sitrick
Sitrick & Company
Email: [email protected]
Telephone:
+1 (310) 788-2850

OpenGate Business Development Contact
Joshua Adams
Email:
[email protected]
Telephone:
+1 (310) 432-7000

Reedcapital Media Contact
Email: [email protected]
Telephone:
+33 1 72 74 10 31

Luigi M. Chiaraviglio Media Contact
Email: [email protected]
Telephone:
+41 79 95 95 795

Swiss Merchant Corporation Media Contact
Email: [email protected]
Telephone:
+41 91 2103568

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