OpenGate carves out Saint-Gobain's silicon carbide division

This transaction is part of Saint-Gobain's announced objective to divest businesses representing sales of at least €3bn by the end of 2019, for around €1bn in value.

Norwegian wood stoves maker Jøtul and the French and Benelux operations of security products designer Gunnebo constituted the US-based GP's investments in Europe in 2018, according to Unquote Data.

Last year it was reported by several news outlets that the GP was in the process of raising its second generation fund, OpenGate Capital Partners II. The GP's maiden vehicle, OpenGate Capital Partners I, closed on $305m in 2016.

Company
Based in Paris, Saint-Gobain is a producer, processor and distributor of construction materials and packaging products, serving the construction, transport and infrastructure industries.

The business as a whole operates in 67 countries and employs 179,000 people. It generated €40.8bn in sales in 2017.

Saint-Gobain's silicon carbide business reported annual sales of around €120m in 2017.

People
Saint-Gobain – Pierre-André de Chalendar (Chairman, CEO).

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