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OpenGate Capital’s SMAC to sell skylights business to Kingspan Light + Air

Global private equity firm OpenGate Capital’s portfolio company, SMAC, is to sell its skylights division to Kingspan Light + Air, a division of Kingspan Group. 

The agreement includes the sale of Skydôme, a subsidiary focused on the production of daylighting, ventilation, smoke evacuation, and roofing access systems, and Essemes Services, a division of Skydôme, specialising in the installation of skylights and the maintenance of fire safety equipment. 

Terms of the agreement have not been disclosed, and the final sale is subject to closing conditions and works council consultation.
 
The pending sale of Skydôme and Essemes enables SMAC to focus on its core Travaux business, which provides waterproofing and building envelope solutions. This announcement follows the previous agreement to sell SMAC’s AXTER Membranes division which is targeted to close in 2021. OpenGate acquired SMAC from Colas Group in May of 2019.
 
Andrew Nikou, OpenGate Capital’s Founder and CEO, says: “We are confident that the agreement to sell the skylights division of SMAC will enable the company to emerge as a stronger, more resilient business, creating long-term value for its customers and employees. We look forward to a successful conclusion of this transaction and will continue to support SMAC to generate meaningful growth.”
 
SMAC is a French provider of waterproofing and building envelope solutions. The company is headquartered in Issy-les-Moulineaux and has operations across France, Morocco, and South America.

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