OpenGate has acquired a “non-core division” of Gunnebo Group and renamed the business Fichet Security Solutions. No financial terms were disclosed. Based in France, Belgium and Luxembourg, Fichet is a provider of security products, services and solutions.
LOS ANGELES & PARIS–(BUSINESS WIRE)–OpenGate Capital, a global private equity firm, announced today that it has completed the acquisition of a non-core division of Gunnebo Group (GUNN: CPH), and renamed the business Fichet Security Solutions (“Fichet”). A provider of security products, services and solutions, Fichet has operations in France, Belgium and Luxembourg. Terms of the transaction were not disclosed.
Recognized as an integrated security solutions provider, Fichet has two production sites and 12 sales branches in France, and a sales office in Luxembourg and Belgium. Fichet offers products and services across five lines: electronic security, security doors and partitions, safes and vaults, cash management and entrance control. The acquisition includes “Fichet Bauche,” a well-established brand for high quality safes and vaults. Fichet is trusted by a variety of customers including banks, industrial and high-risk sites, retail outlets, public and commercial buildings, internal points of sales, mass transit system providers, and other enterprises.
Andrew Nikou, OpenGate Capital’s Founder and Chief Executive Officer stated, “We are proud to bring Fichet into the OpenGate portfolio today. We have a detailed strategy for driving renewed focus and performance into the business and are excited to work with the team at Fichet toward achieving real growth in the coming years.”
OpenGate Partner Sebastien Kiekert Le Moult, who led the transaction commented, “The investment in Fichet Security Solutions represents many of the hallmarks of a traditional OpenGate acquisition where we have successfully created new value. As an underperforming corporate carve-out with a well-established, customer based, solid management team, and a highly regarded brand, Fichet has the fundamentals to build upon and we’re excited to begin our work immediately.”
Fichet Security Solutions is the ninth platform acquisition in OpenGate Capital’s first, institutional fund following earlier acquisitions of Power Partners, Bois & Matériaux, Energi Fenestration Solutions, Alfatherm, EverZinc, Hufcor, Mersive Technologies and Jøtul.
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. 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, through its legacy and fund investments, has executed more than 30 acquisitions including corporate carve-outs, management buy-outs, special situations and transactions with private sellers across North America and Europe. To learn more about OpenGate, please visit www.opengatecapital.com.