Business Wire

OpenGate Capital Completes Sale of Bois & Matériaux to Chausson Matériaux S.A.S

Share

OpenGate Capital, a global private equity firm, announced today the close of its sale of Bois & Matériaux (“B&M”) to Chausson Matériaux, a major building materials distribution company. The agreement was initially signed in January 2021 and terms were not disclosed.

With headquarters in Pacé, France, and more than 130 branches in the country, B&M is one of the leading building materials distributors in France. During the five-year period the business was owned by OpenGate, the business was fully revitalized under the leadership of CEO Yves Martin, and with the support of OpenGate’s operations team.

Julien Lagrèze, Partner and Head of Europe at OpenGate Capital, commented, “When we first looked at B&M, we saw a business that was underperforming and had vast opportunity. Our deep knowledge of investing in France and understanding of the building materials market motivated us to acquire the operationally complex business. OpenGate’s strategy focused on bottom line improvement, building a stronger, more resilient business with improved operations, and seamlessly integrating with management in a short time since consummating the acquisition. I want to thank CEO Yves Martin and the OpenGate team for their tremendous accomplishments.”

Throughout OpenGate’s ownership, the business experienced significant EBITDA growth. At acquisition, the business had approximately €5.8 million of EBITDA. Following the sale of a non-core business line, Guimier, in 2017, EBITDA was approximately €2.4 million. From the period 2017 through the end of 2020, B&M’s EBITDA expanded to €28.6 million, representing an increase of 10x in three years. This transformational growth was achieved through the execution of OpenGate’s investment thesis and operational process during a cycle of turbulent market conditions including the global pandemic. Operational achievements include:

  • Completing a carve-out and transition from UK-based parent company
  • Closing non-profitable branches
  • Improving purchasing through a rationalization of the product range and supplier base
  • Implementing a sales efficiency program to improve the sales organization, processes and tools
  • Streamlining the back office functions and organization
  • Creating a new, fully optimized logistic platforms
  • Developing an innovative digital pricing tool in order to preserve and optimize margin

B&M CEO Yves Martin stated, “The partnership was completely different from other private equity firms. From the outset, OpenGate understood B&M, and the fast start was attributed to their operations and M&A teams collaborating. OpenGate’s presence in both the United States and Europe, with the French team very rooted into the nuances of the local market, gave us confidence at the onset of our relationship. OpenGate was resilient and patient, allowing B&M time to implement change in the best manner, which is not the normal private equity approach.”

“With the exit, B&M is at one of the most interesting periods in the French building materials sector in years. It was built as the second national business in the country with no room for a number three player. The sale to Chausson paves a new, bright future with access to the best projects in France or pan-European in the next 10 years,” said Martin.

B&M has more than 2,100 employees and operations across the northern region of France with two main networks: Réseau Pro and Panofrance.

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.

To view this piece of content from cts.businesswire.com, please give your consent at the top of this page.

Contact information

OpenGate Media Contacts
Prosek Partners
Email: Pro-opengate@prosek.com

Alanna Chaffin
Co-Head, Investor Relations & Communications
Email: AChaffin@opengatecapital.com
Telephone: +1 310-432-7000

OpenGate Business Development Contact
Joshua Adams
Email: jadams@opengatecapital.com
Telephone: +1 310-432-7000

About Business Wire

Business Wire
Business Wire
24 Martin Lane
EC4R 0DR London

+44 20 7626 1982http://www.businesswire.co.uk

(c) 2018 Business Wire, Inc., All rights reserved.

Business Wire, a Berkshire Hathaway company, is the global leader in multiplatform press release distribution.

Subscribe to releases from Business Wire

Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.

Latest releases from Business Wire

Lunaphore Announces Appointment of Matthias Weber, Former President of Leica Biosystems, to Board of Directors13.5.2021 17:00:00 CEST | Press release

Lunaphore Technologies SA, a Swiss life-sciences company developing innovative next-generation equipment for cancer research, announces the appointment of Matthias Weber, former President of Leica Biosystems, to its Board of Directors. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20210513005627/en/ Matthias Weber - The new member of Lunaphore’s Board of Directors (Photo: Business Wire) Mr. Weber brings extensive experience in the cancer diagnostics and immunohistochemistry fields, marked by excellence in a range of diverse strategic roles including Product Management, R&D, Operations, Sales & Marketing, and most notably as President at Leica Biosystems, a position which he held between 2012 and 2019. Mr. Weber commented: “I am delighted to join Lunaphore’s Board and to be part of a great team of innovators that will change the future of Immunohistochemistry (IHC) and Cancer Diagnostics”, and he added: “especially in the fiel

SentinelOne Receives Highest Score for Type B Use Case in the Gartner 2021 Critical Capabilities for Endpoint Protection Platforms13.5.2021 16:00:00 CEST | Press release

SentinelOne, the autonomous cybersecurity platform company, today announced that Gartner has positioned SentinelOne with the highest score in use case Type B in Gartner’s 2021 Critical Capabilities for Endpoint Protection Platforms report1. SentinelOne received the highest score for all three customer types out of 19 vendors. Gartner says, “Type B organizations aim to stay relatively current on technology without getting too far ahead or behind their competition.” “We believe receiving the highest product score among organizations prioritizing overall value in the 2021 Critical Capabilities for Endpoint Protection Platforms validates our vision and execution in delivering an AI-powered platform purpose built for the demands of the mainstream enterprise market,” said Raj Rajamani, Chief Product Officer, SentinelOne. “These organizations represent the largest market segment out of Gartner’s use cases and prioritize technology deployments that improve their organization’s productivity, pr

Wipro Has Earned the Microsoft Windows Virtual Desktop Advanced Specialization13.5.2021 15:12:00 CEST | Press release

Wipro Limited (NYSE: WIT, BSE: 507685, NSE: WIPRO), a leading global information technology, consulting and business process services company, today said it has earned the Microsoft Windows Virtual Desktop advanced specialization, a validation of a partner’s deep knowledge, extensive experience and expertise in deploying, scaling and securing virtual desktop infrastructure on Azure. Only partners that meet stringent criteria around customer success and staff skilling, as well as pass a third-party audit of their Windows Virtual Desktop technical practices are able to earn the Microsoft Windows Virtual Desktop advanced specialization. Supporting secure remote work for employees is more critical than ever. Windows Virtual Desktop is a Microsoft solution that seamlessly integrates with other Microsoft products and allows customers to implement virtual desktops in a scalable, secure, and cost-effective way. Partners with validated capabilities in implementing Windows Virtual Desktop can he

Schlumberger Appoints Dr. Katharina Beumelburg as Chief Strategy and Sustainability Officer13.5.2021 15:00:00 CEST | Press release

Schlumberger announced today the appointment of Dr. Katharina Beumelburg to the position of Chief Strategy and Sustainability Officer, Schlumberger Limited, reporting to Olivier Le Peuch, Chief Executive Officer. The appointment is effective Monday, May 17. As a member of the executive team, Dr. Beumelburg will oversee corporate strategy, sustainability, marketing and communications activities across the Company. Dr. Beumelburg joins Schlumberger from a global technology company, Siemens, where she has held various leadership positions including strategy development incorporating sustainability; management consulting; business excellence; and operations management. In her most recent position, she led the global Transmission Services business. “I am delighted to welcome Katharina to the Schlumberger team at a pivotal time for the company, the energy industry and our planet. Sustainability is increasingly core to our performance strategy, through which we will realize our vision,” said

Ferring and Rebiotix to Present Landmark Data for Investigational Microbiota-based Live Biotherapeutic RBX2660 at Digestive Disease Week ® (DDW) 202113.5.2021 14:00:00 CEST | Press release

Ferring Pharmaceuticals and Rebiotix, a Ferring Company, today announced that Phase 3 data evaluating its investigational microbiota-based live biotherapeutic RBX2660 for reduction of recurrent Clostridioides difficile(C. difficile) infection will be presented as part of an invited talk at Digestive Disease Week® (DDW) 2021. The congress will take place virtually from May 21-23, 2021. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20210513005129/en/ “These data are the pinnacle of a decade of ground-breaking research and development, driven by the goal of helping those who are experiencing the debilitating effects of recurrent C. difficile infection,” said Lee Jones, Founder, President and Chief Executive Officer of Rebiotix, a Ferring Company. “We’re striving to deliver innovative therapeutics to help people live better lives, and are proud to be pioneering a new category of scientifically-validated, microbiome-based therapeu

S&P Global Ratings Recognizes PMI’s Business Transformation as Industry Differentiator13.5.2021 13:59:00 CEST | Press release

Philip Morris International Inc. (PMI) (NYSE:PM) is transforming its business to deliver a smoke-free and sustainable future. Today, the company announced that S&P Global Ratings’ ESG Evaluation report has assessed PMI’s approach to environmental, social, and governance (ESG) topics and confirmed that PMI has positively differentiated itself within the tobacco sector. The S&P Global Ratings ESG evaluation assesses a company’s ESG strategy and ability to prepare for potential future risks and opportunities, and provides a forward-looking, long-term opinion of a company’s readiness for disruptive ESG risks and opportunities. It provides an overall score that allows comparison with other entities globally, including sector peers, and consists of a combined sector/region score, an entity-specific score, and a preparedness score. Based on entity-specific scores — designed to indicate how a company is actively and effectively managing its exposure to ESG risks and opportunities compared with

Genius Sports to Announce First Quarter 2021 Results on May 2013.5.2021 13:00:00 CEST | Press release

Genius Sports Limited (NYSE:GENI) (“Genius” or “GSL”) today announced that it will release its first quarter 2021 results before 8:00AM EDT on Thursday, May 20, 2021. At 8:00AM EDT on the same day, Genius will host a conference call to discuss the results. Genius’ earnings press release and related materials will be available at investors.geniussports.com. To listen to the live audio webcast and Q&A, please visit Genius’ investor relations website at investors.geniussports.com. A replay of the webcast will be available on the website within 24 hours after the call. About Genius Sports Genius Sports is the official data, technology and commercial partner that powers the global ecosystem connecting sports, betting and media. We are a global leader in digital sports content, technology and integrity services. Our technology is used in over 150 countries worldwide, empowering sports to capture, manage and distribute their live data and video, driving their digital transformation and enhanc