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OpenGate in talks to buy Bois & Matériaux from Wolseley

OpenGate Capital said Wednesday that it has entered into a exclusivity period to buy Bois & Matériaux from Wolseley plc. Financial terms weren’t announced. Rennes, France-based B&M distributes building materials in France.

PRESS RELEASE

LOS ANGELES & PARIS–(BUSINESS WIRE)–OpenGate Capital, a global private equity firm, announced today that it has entered into a period of exclusivity with Wolseley plc, to acquire their France-based business, Bois & Matériaux (“B&M”), a leading distributor of building materials.

B&M is one of the top three business-to-business distributors of building materials in France, with two established brands: Réseau Pro and Panofrance. B&M also has a single-branch business, Guimier, a specialty supplier of architectural plaster moldings to the Parisian market. B&M distributes building materials to more than 12,000 smaller, trade customers in the residential market, evenly split between new-build and renovation projects. B&M is headquartered in Rennes, France, generates more than €600 million in revenue, operates from 138 sites, and has 2,500 employees.
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.