Private equity firm OpenGate Capital LLC has completed a deal for Profalis, a supplier of polyvinyl chloride window and door profiles to the European building and construction industry.
OpenGate bought the company from Tessenderlo Group (NYSE: TESB) for an undisclosed amount.
The firm hopes to expand Profalis through growing its customer base, extending its geographic reach and broadening the product range. Profalis, based in Lithuania, works on fenestration, shutter systems and other interior and exterior finishing products. The business has production facilities in Clerval, France and Oeselgem, Belgium, as well as sales offices in Poland and Hungary.
In December Los Angeles-based OpenGate acquired Zodiac Recreational, a company that designs and manufactures inflatable boats. The firm’s other portfolios include Hamilton Scientific and Fusion Paperboard.