M&A Deal Summary

Westlake Acquires NAKAN

On September 25, 2018, Westlake acquired plastics company NAKAN from OpenGate Capital for 265M USD

Acquisition Highlights
  • This is Westlake’s 3rd transaction in the Plastics sector.
  • This is Westlake’s 6th largest (disclosed) transaction.
  • This is Westlake’s 1st transaction in France.

M&A Deal Summary

Date 2018-09-25
Target NAKAN
Sector Plastics
Buyer(s) Westlake
Sellers(s) OpenGate Capital
Deal Type Add-on Acquisition
Deal Value 265M USD

Target

NAKAN

Reims, France
NAKAN is a global leader in PVC, TPE and TPO compounds for selected markets: Automotive Industry, Healthcare, Packaging, Consumer Goods, Building & Construction. The wide range of Nakan products includes rigid and flexible grades for extrusion, injection, pressing and roto-molding: a full set of possibilities for manufacturers and end-users to answer any specific application.

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Buyer(S) 1

Buyer

Westlake

Houston, Texas, United States

Category Company
Founded 1986
Sector Chemicals
Employees15,520
Revenue 12.5B USD (2023)
DESCRIPTION
Westlake Chemical's corporate headquarters in Houston, Texas.
Westlake Chemical's corporate headquarters in Houston, Texas.

Westlake manufactures and markets basic chemicals, vinyls, polymers, and fabricated building products. It operates through two segments, Olefins and Vinyls. Westlake was founded in 1986 and is based in Houston, Texas.


DEAL STATS #
Overall 6 of 10
Sector (Plastics) 3 of 4
Type (Add-on Acquisition) 4 of 5
Country (France) 1 of 1
Year (2018) 1 of 1
Size (of disclosed) 6 of 7
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2016-06-10 Axiall

Atlanta, Georgia, United States

Axiall Corp. is an integrated chemicals and building products company. Axiall has manufacturing facilities located throughout North America and in Asia to provide industry-leading materials and services to customers.

Buy $3.8B
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-06-20 Boral’s North American Building Products Business

Roswell, Georgia, United States

Boral’s North American Building Products Business is involved in providing the building products related to roofing; siding, trim and shutters; decorative stone; and windows. It employs approximately 4,600 employees at 29 manufacturing sites in the United States and Mexico

Buy $2.2B

Seller(S) 1

SELLER

OpenGate Capital

Los Angeles, California, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 2005
PE ASSETS 890M USD
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

OpenGate Capital is a private investment firm focused on acquiring divestitures of larger public corporations or troubled companies needing restructuring. OpenGate does not focus any particular industry and will consider opportunities throughout North America and Europe. The Firm's target companies with up to $1 billion of revenue and valued up to $300 million. OpenGate Capital was formed in 2005 and is based in Los Angeles, California.


DEAL STATS #
Overall 18 of 32
Sector (Plastics) 2 of 3
Type (Add-on Acquisition) 5 of 15
Country (France) 5 of 8
Year (2018) 3 of 3
Size (of disclosed) 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-07-17 Fichet Security Solutions

Vélizy-Villacoublay, France

Fichet Security Solutions offers products and services across five lines; electronic security, security doors and partitions, safes and vaults, cash management and entrance control. Fichet Security Solutions is based in Vélizy-Villacoublay, France.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2019-01-15 Fiven

Courbevoie, France

Fiven A/S is a producer of metallurgical feedstock, refractory materials abrasive grains, and products used in technical ceramics. Fiven A/S offers unique properties of hardness, thermal resistance, wear resistance, thermal conductivity, and chemical inertness. Fiven products are used in a wide array of applications including metallurgy, refractory materials, filtration products, and technical ceramics. Fiven has a global manufacturing footprint across Norway, Belgium, Brazil, and Venezuela, and will be headquartered in Oslo, Norway. Fiven products are sold to a diverse customer base across Europe, South America, North America, and Asia.

Buy -