Private equity firm OpenGate Capital’s portfolio company, SMAC, a French provider of waterproofing and building envelope solutions, has completed the full exit of its manufacturing division, Industrie, with the sale of its Resins business unit to MAPEI, an Italian leader in the production of adhesives and chemical products for the building industry.
The Resins business unit includes resin manufacturer, Resipoly and Services, and installation specialist, Eurosyntec. Terms of the agreement were not disclosed.
This latest disposal completes SMAC´s exit from its manufacturing division, in line with its strategy to refocus on its core works business (Travaux), which is centred on waterproofing, cladding, energy renovation, and maintenance of building envelope systems. The exit of Resins follows the previously announced sales of the Skydôme and Essemes Services businesses, sold to Kingspan Light + Air in April 2021, and AXTER, the membranes division, sold to IKO in March 2021. All three businesses were held under SMAC’s manufacturing division, Industrie.
