OpenGate carves out SMAC from Colas

The rationale behind the sale for the Colas Group is the refocusing on its strategic activities related to transport infrastructure and construction materials. Colas acquired Miller McAsphalt and Alpiq's rail subsidiaries in 2018.

The acquisition has been approved by employee representatives at SMAC and Colas. Its full completion remains subject to the approval of merger control authorities, including the French Competition Authority.

Road construction company Colas is a subsidiary of listed group Bouygues.

OpenGate, which has offices both in the US and in France, recently acquired the silicon carbide division of France-based Saint-Gobain, a building materials specialist. 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
SMAC’s origins date back the 1880s and it became part of Colas in 1999. Headquartered in Issy-les-Moulineaux, it manufactures waterproofing and building envelope products with two divisions: SMAC Travaux and SMAC Industrie. In 2017, SMAC generated consolidated revenues of €569m.

People
OpenGate Capital - Adrew Nikou (founder).  

 

• Tweet  
• Facebook  
• LinkedIn  
• Google plus  
• Send to  

• Topics
• Buyouts
• France
• Industrials
• France
• OpenGate Capital