Sale Represents OpenGate’s Second Full Realization of a European Business in 2024

OpenGate Capital (“OpenGate”), a global private equity firm, announced today that it has completed the sale of Fiven, a worldwide leading producer of Silicon Carbide (“SiC”) grains and powders, to Kymera International, a portfolio company of Palladium Equity Partners, LLC. Terms of the transaction were not disclosed.

OpenGate acquired Fiven in 2019 through a corporate carve-out from Saint-Gobain and the business grew in profitability under the guidance of OpenGate’s Operations team. Growth initiatives included:
Navigating a complex carve-out, which required, most notably, setting-up standalone support functions, legal entities and new supply agreements;
Improving sales mix, with a specific focus on specialty products, including high-purity silicon carbide for semiconductors, Li-on batteries and defense applications;
Implementing a value-based pricing across the customer portfolio;
Developing a clear ESG roadmap to ensure Fiven’s best-in-class industry positioning.

“Our work over the past five years with Fiven’s CEO Falk Ast and his team has been incredibly rewarding,” said Julien Lagrèze, Partner and Head of Europe at OpenGate. “Through our dedicated partnership, we’ve led Fiven on a journey of disciplined growth. I want to thank the team at OpenGate for their collaboration on this investment, including our M&A team led by Fabien Marcantetti, Managing Director, Xavier Lambert, Principal, and Damien Faujour, Senior Associate; and our Operations team led by Marc Veillas, Managing Director, and Stéphane Feldmann, Principal. I’m confident that the business is primed for continued success.”

Fiven CEO, Falk Ast, stated, “Thank you to the OpenGate team for their tremendous partnership throughout the entire process and to the hardworking team at Fiven for their contributions. Our close collaboration with OpenGate propelled Fiven’s position as a global leader within the industry, and we are excited about the company’s future with Kymera.”

Fiven SiC grains and powders offer unique properties of hardness, thermal resistance, wear resistance, thermal conductivity, and chemical inertness. Fiven products are sold to a diverse customer base across Europe, South America, and North America for use in a wide array of applications including metallurgy, refractory materials, filtration products, and technical ceramics. Fiven has a global manufacturing footprint across Norway, Belgium, and Brazil and is headquartered in Oslo, Norway.

OpenGate Capital was advised by Baird and Willkie Farr & Gallagher LLP.

The exit of Fiven marks OpenGate’s second full realization in 2024 following the sale of SMAC, a French waterproofing and facades business which OpenGate sold to Compagnie Financière Jousset and the SMAC management team in late April 2024.

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 has executed more than 40 platform acquisitions across North America and Europe. To learn more about OpenGate, please visit www.opengatecapital.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20240731745120/en/

OpenGate Media Contacts:

Prosek Partners
Email: Pro-opengate@prosek.com

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

OpenGate Origination Contact:

Joshua Adams
Partner
Email: jadams@opengatecapital.com
Telephone: +1 310-432-7000

Logo

Tags

More Like This

OpenGate Capital Enters into Binding Agreement to Sell Fiven

Kymera International Signs Definitive Agreement to Acquire Fiven ASA, a Leader in Advanced Silicon Carbide Materials

OpenGate Capital Completes Sale of SMAC

OpenGate Capital Enters into Exclusive Discussions to Sell SMAC

OpenGate Capital Exits Investment in Verdant Specialty Solutions Through Sale to Samyang Specialty Solutions

OpenGate Capital Executes Agreement to Acquire Merak, the Global Rail HVAC Business of Knorr-Bremse

OpenGate Capital to Acquire Maersk Training, the Global Safety Training and Gas-Safety Services Business of Maersk

OpenGate Capital Strengthens Business Development Team with Thomas Pinks