The Kem One Group SAS, which is jointly owned by OpenGate Capital and Alain de Krassny, has finalized the acquisition of France-based PVC compounds and profiles producer Kem One Innovative Vinyls from the Klesch Group.
Andrew Nikou, founder, CEO and managing partner of Los Angeles-based OpenGate Capital said: “This transaction represents the fulfilment of a three-year strategy at OpenGate. We studied the European building and construction market as far back as 2012, identified several areas of opportunity, and since then have been acquiring PVC-related businesses that were non-core to larger corporations including Kem One and our other portfolio companies, Benvic and Profialis.
“The acquisition of Kem One Innovative Vinyls is an important addition to our cluster of highly synergistic and complementary businesses within Europe's PVC industry that serve a multitude of markets and customers throughout the world. OpenGate's European team has worked tirelessly to complete this acquisition and I am incredibly proud of the efforts of our entire global team.”
Kem One Innovative Vinyls is headquartered in Paris, has 13 plants across Europe, Asia and Mexico, reports sales of approximately 350 million euros ($383.7 million) and employs 1,200 people.