OpenGate to buy Saint-Gobain’s silicon carbide unit

OpenGate Capital said Jan. 15 that it agreed to buy the silicon carbide division of Saint-Gobain SA. Financial terms weren’t announced. The Saint-Gobain silicon carbide division produces metallurgical feedstock, refractory materials abrasive grains, and products used in technical ceramics.

PRESS RELEASE

January 15, 2019 03:00 AM Eastern Standard Time
LOS ANGELES & PARIS–(BUSINESS WIRE)–OpenGate Capital, a global private equity firm, announced today that it has entered into exclusive discussions to acquire the silicon carbide division of Saint-Gobain S.A. (EPA: SGO). The transaction is anticipated to be formally signed and completed in the first half of 2019. Financial terms were not disclosed.
The silicon carbide division has a global manufacturing footprint with sites across Norway, Belgium, Brazil and Venezuela. The business produces metallurgical feedstock, refractory materials abrasive grains, and products used in technical ceramics.
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.