EverZinc announced the acquisition of G.H.C, the Canadian manufacturer and exporter of French Process zinc oxide products.
LOS ANGELES & PARIS — OpenGate Capital, a global private equity firm, announced today that its portfolio company, EverZinc, a European specialty zinc chemical business, has acquired G.H. Chemicals Ltd., and Microzinc Inc., collectively referred to as “GHC”, a Canadian manufacturer and exporter of French Process zinc oxide products. Terms of the transaction were not disclosed.
GHC was established in 1974 and is based in Saint Hyacinthe, Quebec. Through its manufacturing facility, GHC produces four grades of French Process zinc oxide used for pharmaceutical and food products, as well as fertilizer and feed grades, and various grades for rubber compounding. The business was acquired from Mr. Stephan Tabah and Mr. Philippe Bailet. GHC has a seasoned team of professionals and a highly trained employee base of 58 people serving a customer base of industrial, pharmaceutical and agriculture customers.
“The acquisition of GHC is a transformational investment for EverZinc that provides product and market expansion through world class facilities in Quebec,” said Andrew Nikou, OpenGate Capital’s Founder and CEO. “OpenGate’s strategy is to build both organic and inorganic growth for the businesses in which we invest. Earlier this year OpenGate launched OGx, a new digital optimization capability, to grow EverZinc and now GHC. Through the investment in GHC, and the OGx platform, we are confident that EverZinc’s global product offering will better serve its customers.”
Vincent Dujardin, CEO of EverZinc, stated, “We are excited to welcome GHC into the EverZinc portfolio and look forward to working together to leverage our respective products, processes and better serve our customer bases.”
Fabien Marcantetti, Managing Director in OpenGate’s Paris office, who led the transaction, added, “We are incredibly proud of completing this acquisition as the business provides many accretive aspects to EverZinc. Stephan and Philippe have driven advancements in the business and we are looking forward to working with them in the many months ahead.”
Julien Lagreze, Partner at OpenGate Capital, also commented, “The GHC transaction represents OpenGate’s second add-on acquisition which we believe further strengthens the investments acquired in our first institutional fund. I am very pleased that this is another milestone achieved within OpenGate’s investment strategy.”
OpenGate has completed two add-on investments including G.H. Chemicals and Aico S.P.A, an Italian manufacturer of home heating products, an add-on to Jøtul Group, acquired in March of 2018.
Source : EverZinc