LOS ANGELES & PARIS--(BUSINESS WIRE)--OpenGate Capital, a global private equity firm, announced today that it has signed a binding offer to acquire the French, Belgium and Luxembourg divisions of Gunnebo Group (GUNN: CPH), a leading provider of security products, services and solutions. The acquisition is expected to be completed in the fourth quarter of 2018. Terms of the transaction were not disclosed.
Recognized as an integrated security solutions provider, the Gunnebo entities, which will be renamed post-closing, comprise two production sites and 12 sales branches in France, and a sales office in Luxembourg and Belgium. Throughout all regions, the business offers products and services across five lines: electronic security, security doors and partitions, safes and vaults, cash management and entrance control. The transaction will also include “Fichet Bauche,” a highly recognized name in quality safes and vaults. Gunnebo products and services are trusted security solutions chosen 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 commented, “We are really excited to announce the Gunnebo agreement as the business is well positioned for growth under OpenGate’s guidance. I am also very proud that OpenGate will complete yet another cross-border, corporate carve-out of a lower middle market business, a niche market in which OpenGate has several competitive advantages.”
Leading the transaction from OpenGate Capital’s Paris office was Managing Director, Mr. Fabien Marcantetti. Marcantetti stated, “We were pleased to have worked closely with the team at Gunnebo Group and develop a divestiture solution that satisfied their strategic objectives. OpenGate’s investment strategy will be to build upon the many positive attributes of the Gunnebo business to expand and create enhanced value.”
Upon completion, the acquisition of the Gunnebo businesses will be the ninth platform acquisition in OpenGate Capital’s first institutional fund.
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.