OpenGate hires Nugent as principal

OpenGate Capital hired Desmond Nugent as principal, overseeing the operations of the firm’s North American portfolio companies. Nugent joins the firm’s Los Angeles office from The Gores Group, where he was a principal.

PRESS RELEASE

LOS ANGELES–(BUSINESS WIRE)–OpenGate Capital, a global private equity firm, announced today that it has strengthened its bench of professionals with the hire of Desmond Nugent as a Principal, overseeing the operations of the firm’s North American portfolio companies. Mr. Nugent was most recently a Principal with The Gores Group and will be working from OpenGate Capital’s Los Angeles headquarters.

Mr. Andrew Nikou, OpenGate Capital’s founder and managing partner, commented, “Desmond is a world-class, tenured investment professional who brings with him incredible leadership and operational strengths that will be integral to our acquisition and operations strategy. In his role, Desmond will be a valuable leadership resource for our in-house operations team, and our portfolio of companies will benefit from his multi-faceted experience.”

Mr. Nugent will oversee operations for the firm’s North American portfolio of businesses and he will provide operations support to the firm’s M&A team on all transactions across the Americas.

Commenting on his hiring, Mr. Nugent said, “I am excited to join OpenGate Capital and look forward to working with the entire team. OpenGate Capital has forged a unique position in the lower middle market, particularly on cross-border transactions. I am eager to work on the current pipeline of opportunities and portfolio of companies that operate in a wide spectrum of industries.”

Prior to joining OpenGate Capital, Mr. Nugent was a Principal with The Gores Group in Los Angeles where, in the last five years, he held board and operational leadership positions at six portfolio companies. Mr. Nugent was responsible for each portfolio company’s financial oversight and partnered with the management teams to drive revenue growth, operational effectiveness, and profit improvement. Mr. Nugent has also held senior executive finance and operations positions in companies in New York, Chicago, London, and Milan. Mr. Nugent earned his MBA from Columbia University, a Post-Graduate Diploma in Accounting from Queens University of Belfast, Northern Ireland, and a Bachelor of Arts with Honors in Accounting from the University of Ulster, Belfast, Northern Ireland.

About OpenGate Capital

OpenGate Capital is a global private equity 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 New York, 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 40 transactions ranging from corporate divestitures to turnaround acquisitions, industry consolidations and other special situation investments. The OpenGate portfolio of wholly owned businesses generates approximately $2 billion in revenue and includes businesses from a wide range of industries and geographic markets. For more information, please visit www.opengatecapital.com.