Paris – Paul Hastings LLP, a leading global firm, has advised OpenGate Capital, a global private equity firm, in connection with the acquisition of Kem One Innovate Vinyls from The Klesch Group. Kem One Innovative Vinyls produces downstream polyvinyl chloride, “PVC”, products including compounds, profiles and tubes at its facilities in Europe, Asia and Mexico. Terms of the transaction were not disclosed.
Kem One Innovative Vinyls produces and distributes rigid and flexible end products that are used in a variety of applications across a multitude of industries including automotive, construction, furnishings, electrical, packaging, paramedical, healthcare, industrial equipment and others. The business operates under two brand names, Resinoplast, which specializes in compound manufacturing, and Alphacan, which produces converted materials including window profiles and tubes. Kem One Innovative Vinyls is headquartered in France, has 13 plants across Europe, Asia and Mexico, revenues of approximately €350 million, 1,200 employees, and serves a global customer base.
The acquisition of Kem One Innovative Vinyls, announced in January 2014, follows OpenGate Capital’s investment in Kem One SAS, which was also advised by the French restructuring team of Paul Hastings led by Lionel Spizzichino. Kem One SAS is an upstream producer of PVC resins that will continue to serve as a source of raw materials to Kem One’s downstream operations, Resinoplast and Alphacan.
The Paul Hastings team was led by Paris partner Lionel Spizzichino, who advised on the restructuring aspects with associate Audrey Nelson. The team also included Paris corporate partner Etienne Mathey and associate Charlotte Pennec, Beijing and Shanghai partners David Wang and Jia Han with associates Lily Zhang and Ella Han,and Milan partner Paolo Manganelli and associate Simona Martuscelli.
Gide Loyrette Nouel also represented OpenGate Capital, with Dimitri Dimitrov (Partner) and Edgard Nguyen.
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