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OpenGate in exclusive discussions over SMAC sale

Global private equity firm OpenGate Capital has entered into exclusive discussions over the sale of SMAC, a supplier of waterproofing and building envelope systems, to Compagnie Financière Jousset and SMAC’s management team.

Terms of the proposed agreement have not been disclosed.

OpenGate acquired SMAC in 2019 through a corporate carve-out from Colas Group, a subsidiary of Bouygues. Following the acquisition, SMAC — which was founded in 1884 — disposed of its manufacturing divisions (membranes, skylights, and resins) to focus on installation.

The transaction is subject to customary regulatory approvals and is expected to close before the end of Q2 2024.

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