Private equity firm OpenGate Capital is buying building products business Bois & Matériaux for an undisclosed amount.
Bois & Matériaux, headquartered in Rennes, France, is a business-to-business building material distributor. The company owns the Réseau Pro and Panofrance brands. It also operates a single branch business called Guimier, which supplier architectural plaster moldings. The business brings in about €600 million (U.S. $644 million) in revenue.
The company is being sold by Wolseley plc, a building products distributor.
Los Angeles-based OpenGate focuses on special situations, including turnarounds. The firm has an office in Paris, as well as São Paulo, Brazil, and New York. The firm is invested in a handful of other building products companies, including Kem One Innovative Vinyls, which it bought in July, and Benvic, which it picked up in 2014.
The building products sector has seen a slew of acquisitions in the past few years. Masonite International Corp. (NYSE: DOOR) recently closed a $13 million deal for USA Wood Door, and before that, Morsco picked up plumbing supplier Murray Supply Co. For more, see Growth in Construction Sector Spurs M&A in Building Products.