Kingspan Light + Air, a division of Kingspan Group Plc, has purchased the skylights-related division of SMAC, a French provider of waterproofing and building envelope solutions and portfolio company of global private equity firm OpenGate Capital, has completed the sale of its skylights-related division. The sale of the skylights division includes two business lines; Skydôme, a subsidiary focused on the production of daylighting, ventilation, smoke evacuation, and roofing access systems; and Essemes Services, a division within Skydôme specializing in the installation of skylights and the maintenance of fire safety equipment.
Andrew Nikou, OpenGate Capital’s Founder and CEO, stated, “The sale of AXTER and the skylights division, marks the fulfillment of an important aspect our original investment thesis for SMAC. Having completed both sales processes in less than two years after acquiring the business, we are enthusiastic about potential add-on investments and many new opportunities ahead for SMAC.”
SMAC’s CEO, Franck Davoine, commented, “We are very pleased with the completion of these two sales processes. We are now in greater position to focus on our mission to address large scale construction projects in an environmentally responsible manner for that will serve our customers, and our business, for many years ahead.”