Menu

Paul Hastings Advises OpenGate Capital in Connection with the Acquisition of Kem One

January 10, 2014

Paris, France – Paul Hastings LLP, a leading global law firm, has advised OpenGate Capital in connection with the acquisition of Kem One SAS, second largest European manufacturer of PVCs, together with the industrial investor, Alain de Krassny. The reorganization plan of Kem One SAS was approved on Friday, 20 December by an Order of the Tribunal de Commerce (Commercial Court) of Lyon, after months of negotiations with Groupe Kem One’s principal business partners and support from the French Government to preserve the continued viability of the French petrochemical industry.

Kem One SAS is part of the upstream business activity of Kem One Group. The Order also provides for the sale of Kem One Innovative Vinyls by Klesch Group, the downstream portion of the Group. Kem One Group employs 2,600 employees at 22 facilities in ten different countries and has sales of €1.1 billion.

OpenGate Capital is an investment holding company formed in 2005 that specializes in the acquisition and operation of underperforming companies by promoting growth and improving their performance.  Based in Los Angeles, Paris, and Sao Paulo, OpenGate Capital has completed approximately thirty transactions since it was formed and manages a portfolio of companies that generates $3 billion in revenues.

The Paul Hastings team was led by restructuring partner 
Lionel Spizzichino with associate Audrey Nelson, assisted by finance partner Mounir Letayf, corporate partner Edith Boucaya, and employment partner Stéphane Henry.

Advice on environmental issues was provided by Savin Martinet: Gwladys Beauchet (Partner) and Seynabou Kandji. Advice on energy issues was provided by Kalliopé:  Jocelyn Duval (Partner) and Nicolas Contis. Gide Loyrette Nouel also represented OpenGate Capital, with Guillaume Jolly, Edgard Nguyen, and Dimitri Dimitrov. Alain de Krassny was represented by Colbert (Stéphane Vital-Durand, Bertrand de Belval, and Sophie Dechelette-Roy, Partners). Alain Ribeyre advised Kem One SAS with August & Debouzy (Julien Aucomte and Marie Danis, partners, Laurent Cotret and Benoit Robert). Willkie Farr & Gallagher (Grégoire Finance (partner) and Laure Pistre (corporate) with Maurice Lantourne (restructuring)) represented Arkema. 

Paul Hastings LLP is a leading global law firm with offices in Asia, Europe, and the United States. We provide innovative legal solutions to financial institutions and Fortune 500 companies. Please visit www.paulhastings.com for more information.