LOS ANGELES & PARIS--(BUSINESS WIRE)--OpenGate Capital, a global private equity firm, today announced the signing of an exclusive agreement to sell Bois & Matériaux (“B&M”), a French building products distributor, to Chausson Matériaux, a major building materials distribution company. Terms of the agreement were not disclosed, and the final sale is subject to closing conditions and works council consultation. OpenGate Capital acquired B&M in March of 2016 from Wolseley Plc, representing the firm’s second investment within Fund I.
Bois & Matériaux, with headquarters in Pacé, France, is one of the leading building materials distributors in France. The business has more than 2,100 employees and operations across the northern region of France with 135 branches and two main networks: Réseau Pro and Panofrance.
OpenGate Founder and CEO Andrew Nikou said, “This agreement marks an important juncture in the evolution of B&M and sets up the business for a new phase of growth. It has been great to work with the team at B&M and CEO Yves Martin, and I look forward to witnessing the continued momentum under Chausson’s ownership.”
Chausson Matériaux is acquiring B&M as part of its strategy to enhance their building materials product offerings in France. Chausson Matériaux was founded in 1921, is headquartered in Toulouse, France, and distributes building materials including heavy-side, roofing, wood, insulation, tiling, tools, and hardware throughout France.
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 buyouts, special situations, and transactions with private sellers across North America and Europe. To learn more about OpenGate, please visit www.opengatecapital.com.