Sunny. High 86F. Winds light and variable..
Clear skies. Low near 55F. Winds light and variable.
LOS ANGELES--(BUSINESS WIRE)--Oct 13, 2022--
OpenGate Capital, a global private equity firm, announced today that it is forming Aluminium Solutions Group SAS (“ASG”), through the combination of Extol, which OpenGate acquired on September 30 th, 2022, and Aluminium France Extrusion (“AFE”), which has been owned by OpenGate since June of 2013. The combination of Extol and AFE, under the name ASG, establishes France’s second and Europe’s sixth largest aluminum extruder with a clear sustainability roadmap. Terms of the transaction were not disclosed.
As part of the value creation strategy, OpenGate also announced that it will be examining options to enhance the ESG profile of ASG, including specific investments to facilitate recycled materials in the production process.
Extol is a specialty extruder and manufacturer of custom aluminum parts with facilities in Toledo, Spain and Nantes, France. AFE is an aluminum extruder serving the construction, transportation, and industrial sectors with facilities in Saint Florentin and Ham, France. Combined as ASG, the business will leverage commercial and operational synergies, increased capacity to capture market growth, and gain a stronger position in their respective markets to become a new European leader in aluminum extrusion capabilities.
“ASG brings together two exceptional companies that are very complementary, creating a European market leader in an industry that continues to show sustained growth,” said OpenGate Capital’s Partner and Head of Europe, Julien Lagrèze. “In addition to leveraging natural operational and commercial synergies, we are proud to be advancing the industry’s ESG goals with uncompromising customer service and quality.”
“Having worked with OpenGate for nearly ten years, we are thrilled to join forces with Extol in forming Aluminum Solutions Group,” said Hervé Pelcerf, CEO at AFE. “The result is an exciting new path for growth and innovation in the ever-growing market for aluminum.”
Caixa Bank and Amundi are the main arrangers of the senior secured debt.
Lincoln International (Paris / Madrid) acted as OpenGate Capital’s M&A and Financing advisor, Cuatrecasas (Madrid) and McDermott Will & Emery (Paris) served as Legal counsels, while PwC performed the commercial, financial, tax, legal and labor due diligence.
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 has executed more than 40 platform acquisitions across North America and Europe. To learn more about OpenGate, please visit www.opengatecapital.com.
View source version on businesswire.com:https://www.businesswire.com/news/home/20221012005162/en/
Email:Pro-opengate@prosek.comAlanna Chaffin
Head of Investor Relations & Communications
Telephone: +1 310-432-7000OpenGate Business Development Contact
KEYWORD: NORTH AMERICA FRANCE UNITED STATES EUROPE CANADA CALIFORNIA
INDUSTRY KEYWORD: PROFESSIONAL SERVICES MACHINE TOOLS, METALWORKING & METALLURGY MANUFACTURING FINANCE OTHER MANUFACTURING STEEL
http://www.businesswire.com/news/home/20221012005162/en
Sorry, there are no recent results for popular commented articles.
Sign up now to get our FREE breaking news coverage delivered right to your inbox.
First Amendment: Congress shall make no law respecting an establishment of religion, or prohibiting the free exercise thereof; or abridging the freedom of speech, or of the press; or the right of the people peaceably to assemble, and to petition the Government for a redress of grievances.