OpenGate Capital Acquires Aluminium Extrusion Business from Constellium
Two Highly Specialized Operations Renamed Aluminium France Extrusions
LOS ANGELES & PARIS--(BUSINESS WIRE)-- OpenGate Capital, LLC, a global private buyout firm, announced today it has acquired Constellium Extrusions, a highly specialized manufacturer of extruded aluminum profiles with operations in Saint-Florentin and Ham, France. The seller, Constellium, is divesting the business as part of an on-going strategy to focus on their interests in aerospace, automotive, packaging and other specialty industries. The business has been renamed Aluminium France Extrusions. No financial terms were disclosed.
Andrew Nikou, OpenGate Capital's founder, Managing Partner and CEO stated, "The acquisition of Aluminium France Extrusions represents exciting opportunities for OpenGate Capital. Not only is this another great platform business where we can build new value, but it is also an opportunity to create synergies with another OpenGate Capital portfolio company, Profialis, as they are both highly specialized and complementary businesses serving the European building and construction industries."
Aluminium France Extrusions covers the entire spectrum of manufacturing aluminium profiles from extrusion to downstream (lacquering, anodizing and thermal breaks) operations. In 2012 the business produced an estimated 25.8k tons of soft alloys for several end-markets including the building and construction, transportation, and industrial and infrastructure sectors. Aluminium France Extrusions derives the majority of its revenues from a broad and diverse customer base in France and employs 360 people across the two sites.
OpenGate Capital's European Partners Julien Lagrèze, Robert Lezec and Sebastien Kiekert Le Moult led the transaction and will continue to work closely with the company to strengthen its operational and financial performance. Julien Lagreze stated, "The management team of Aluminium France Extrusions has led several successful transformations of this business in the past and we look forward to working with them toward the next generation of growth." Commenting further about the transaction, OpenGate Capital Partner, Robert Lezec commented, "We have worked diligently with Constellium to ensure the Aluminium France Extrusions business will transition smoothly into stand-alone operations, and that the team managing the business is fully empowered to achieve greater value."
OpenGate Capital acquired Profialis earlier this year from Tessenderlo Group. Profialis specializes in the production of PVC profiles for windows and doors, serving the European building and construction industries.
About OpenGate Capital, LLC
OpenGate Capital, LLC is a global private buyout firm specializing in the acquisition and operation of businesses seeking revitalization through growth and operational improvements. Established in 2005, OpenGate Capital is headquartered in Los Angeles, California and maintains offices in Paris, France and São Paulo, Brazil. OpenGate's professionals possess the critical skills needed to acquire, transition, operate and build successful businesses. To date, OpenGate Capital has executed more than 30 transactions ranging from corporate divestitures to turnaround acquisitions, industry consolidations and other special situation investments. The OpenGate portfolio of wholly owned businesses generates nearly $2 billion in revenue and includes businesses from a wide range of industries and geographic markets. For more information, please visit www.opengatecapital.com.
Constellium (NYSE and NYSE Euronext: CSTM) is a global sector leader that develops innovative, value added aluminum products and solutions for a broad scope of markets and applications, including aerospace, automotive and packaging. With around 8,900 employees Constellium generated €3.61 billion of revenue in 2012.
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