OpenGate Capital to sell Bois & Matériaux to Chausson Matériaux
Private equity firm OpenGate Capital is to sell Bois & Matériaux (B&M), a French building products distributor, to Chausson Matériaux, a major building materials distribution company.
Terms of the agreement have not been disclosed, and the final sale is subject to closing conditions and works council consultation. OpenGate Capital acquired B&M in March of 2016 from Wolseley Plc, representing the firm’s second investment within Fund I.
Bois & Matériaux, with headquarters in Pacé, France, is one of the leading building materials distributors in France. The business has more than 2,100 employees and operations across the northern region of France with 135 branches and two main networks: Réseau Pro and Panofrance.
OpenGate Founder and CEO Andrew Nikou says: “This agreement marks an important juncture in the evolution of B&M and sets up the business for a new phase of growth. It has been great to work with the team at B&M and CEO Yves Martin, and I look forward to witnessing the continued momentum under Chausson’s ownership.”
Chausson Matériaux is acquiring B&M as part of its strategy to enhance their building materials product offerings in France. Chausson Matériaux was founded in 1921, is headquartered in Toulouse, France, and distributes building materials including heavy-side, roofing, wood, insulation, tiling, tools, and hardware throughout France.