OpenGate Capital Sells Omniplast BV to Consortium of Investors

Realization of Legacy Investment Specializing in PVC Piping Systems for the Agricultural and Greenhouse Sector

LOS ANGELES & PARIS–(BUSINESS WIRE)–OpenGate Capital, a global private equity firm, announced today that it has sold Omniplast BV (“Omniplast”) to a group of European investors composed of Reedcapital, Luigi M. Chiaraviglio, and Swiss Merchant Corporation. Omniplast was acquired by OpenGate in 2015 through the firm’s original, pre-fund investment in Ivy Group. Financial terms were not disclosed.

Andrew Nikou, OpenGate Capital’s founder and CEO commented, “We believe that Omniplast stands for global innovation in the fields of piping and fitting systems. I am incredibly proud of the efforts of OpenGate’s European team in the four years since acquiring Omniplast and have now fulfilled our mandate to exit the business at an ideal time. I wish the entire team at Omniplast an abundance of success under their new owners’ stewardship.”

The team at OpenGate Capital responsible for this investment and realization included: Julien Lagrèze, Partner; Sebastien Kiekert Le Moult, Partner; Marc Veillas, Managing Director; and Jonny Leppin, Senior Vice President.

Renaud Delaage, Partner at Reedcapital said, “Omniplast has a tremendous management team that will benefit greatly from the operational resources and entrepreneurial spirit that we will provide. We have a clear path to grow this business organically and through add-on acquisitions.”

Luigi M. Chiaraviglio added: “We are excited to contribute to the growth of this niche leader, whose products are exported globally, into its next phase of development.”

“We brought together investors sharing our philosophy of long-term value creation,” stated Filippo Sciorilli Borrelli, Managing Director of Swiss Merchant Corporation. Borrelli went on to say, “We are eager to start this journey.”

Luigi M. Chiaraviglio and Renaud Delaage led the transaction. Filippo Sciorilli Borrelli led the equity syndication for Swiss Merchant Corporation and played a key role in the execution.

Omniplast has earned a strong reputation and a loyal customer base within the agricultural and greenhouse sector. The business produces and distributes pressure and non-pressure PVC piping systems for the transportation of gases and fluids. Within its diverse product portfolio, Omniplast has developed five quality standards from three-layer non-pressure pipes, to irrigation and KIWA pressure pipes, to pipe-related specialties. The business is supported by forward integrated logistical solutions enabling efficient packaging and transportation. Headquartered in Veghel, The Netherlands, Omniplast has approximately 60 employees.

OpenGate Capital acquired Omniplast through its legacy, pre-fund portfolio as one of three businesses within Ivy Group. At acquisition, Omniplast had two entities in The Netherlands and Germany, which were separated in 2018 as part of a strategy to maximize each entity’s value. The German business, which specializes in PVC pipes for the residential market, was not included in the transaction.

The realization of Omniplast follows OpenGate Capital’s announcement that NAKAN, another division within Ivy Group, had been sold to Westlake Chemical Corporation in January of 2019.

About OpenGate Capital

Founded in 2005, OpenGate Capital is a global private equity firm that strives to acquire and optimize lower middle market businesses throughout North American and Europe. With a strategic international presence and a focus on corporate carve-outs and complex situations, the firm’s expertise allows it to realize a seller’s divestiture objectives while mitigating the risks associated with a business’s transition to independence. OpenGate is headquartered in Los Angeles and Paris and has a seasoned in-house team of professionals overseeing the entire lifecycle of each investment. To learn more about OpenGate, please visit

About Reedcapital

Reedcapital is a private investment firm focused on the acquisition, transformation and development of lower-middle-market businesses. The firm invests in both performing and underperforming companies to create long term sustainable value. Typical investment opportunities are corporate divestitures and carve-out, complex situations and underperforming businesses. Reedcapital and its partners have been involved in over 30 transactions ranging from corporate divestitures, turnaround acquisitions, industry consolidations and other special situations investments across a wide array of industries and geographical markets. More information available on

About Luigi M. Chiaraviglio

Luigi has been a private equity investor for more than 15 years, with Compass Partners in London first and Investindustrial in Milan, Lugano and New York later and has completed over 10 transactions for a value in excess of Eur 2bn including buyouts or expansion capital deals, restructurings, refinancing and exits and has been on the board of several companies in Europe and the USA. He is the Managing Director of Vista Investors, an investment firm operating through a multi-family office model, focusing on repositioning and expanding lower mid-market businesses or corporate group divisions. For more information please visit

About Swiss Merchant Corporation SA

Swiss Merchant Corporation(“SMC”), founded in 1990, is a corporate finance advisory boutique based in Lugano, Switzerland. SMC specializes in offering tailor made services for its clients aimed at long-term value creation. SMC’s one-stop-shop approach is designed to fulfill clients’ needs. SMC started as a private equity firm, successfully managing four investment funds from 1989 until 2015. Whilst maintaining an active role in direct investments and club deals, SMC has leveraged its experience as an advisor to its portfolio companies to focus on helping clients make informed financial decisions. More information available on

Reedcapital successfully exits from Cordtech Int

Reedcapital, a private industrial holding, announced that it has completed on November 14, 2016, through RDC 15, the sale of 95% of Cordtech International SAS, to Porcher Industries, a leading international group in the technical textiles sector.

Cordtech International is a known provider of cord technologies for the tire and mechanical rubber goods applications in Europe. Cordtech International was acquired by ReedCapital in 2015 from Milliken Group.

Over the past year, Reedcapital and the management of the portfolio company successfully worked to create a stand-alone company and stabilized the business to a strong and stable profitability through a series of operational and commercial initiatives. Reedcapital will keep a minority stake and will assist in the smooth transition of the business.

Renaud Delaage, Reedcapital’s Managing Partner stated : « We are all incredibly proud of our investment in Cordtech International and what we have been able to achieve together with the leadership team and staff of Saint Julien. This transformation has been a real success and Cordtech International is now ready to move up to a new dimension with Porcher Industries and to pursue its growth. »

Acquisition Milliken

Reedcapital, a private industrial holding, announced today it has signed, through RDC 15, an agreement with Milliken Group to acquire Milliken France SAS, a known provider of cord technologies for the tire and mechanical rubber goods applications in Europe. The transaction is expected to close by the end of November. .

Milliken Group’s intent is to refocus and reinforce its portfolio and market position on core strategic technologies and applications in the tire and mechanical rubber goods space within their global footprint.

Renaud Delaage, Reedcapital’s Managing Partner stated, « Milliken France’s is a business with solid fundamentals, strong market position, and a stable base of loyal customers. We’re excited to work with management to build on the strengths of the business and to create significant value with particular focus in France and Europe, the company’s flagship markets. »

Christian Meunier, CEO of Milliken France, commented « We are thrilled to be partnering with RDC, which shares our long-term commitment to the business and pride in our 150-year heritage. Our team is eager to initiate new capital investment projects and new product developments to ensure our future growth plans and continue to meet our customer needs around the world for years to come»

From December 1st 2015, Milliken France S.A.S will change his name to Cordtech International. Christian Meunier, the local Management team and all the associates will stay on board. The change of the ownership will not affect daily business with customers. Cordtech International is committed to continuing to provide customers with the utmost quality and service, and to managing and developing its business in a sustainable manner. Ongoing research and development are also key priorities, as well as maintaining the consistent superiority of its primary products for which the company is known.