Private equity firm OpenGate Capital has closed a deal for Benvic for an undisclosed amount.
Benvic develops, produces and markets products made of polyvinyl chloride, or PVC. These thermoplastic products in the form of powders and compounds are used in a variety of industries, namely building and construction, automotive, pharmaceutical and packaging. The company has manufacturing operations in France, Italy and Spain.
OpenGate has been picking up PVC operations for a while. In January 2013, the firm bought Profalis, a PVC extrusion business, and in January 2014, the firm bought Kem One Sas.
The Los Angeles firm was founded in 2005 and has generated about $3 billion in revenue from its portfolio. The firm bought PennySaver, a provider of print and digital advertising services, in September.
In another recent PVC transaction, Westlake Chemical Corp. agreed to buy Vinnolit Holdings GmbH for about $668 million in May.