EverZinc, Liège, Belgium, a European specialty zinc chemical business, has acquired G.H. Chemicals Ltd. and Microzinc Inc., (collectively referred to as GHC), Saint Hyacinthe, Quebec, a Canadian manufacturer and exporter of French Process zinc oxide products. Terms of the transaction were not disclosed. EverZinc is a portfolio company of OpenGate Capital, Los Angeles, a global private equity firm.
Established in 1974, GHC produces four grades of French Process zinc oxide used for pharmaceutical and food products, as well as fertilizer and feed grades, and various grades for rubber compounding. The business was acquired from Stephan Tabah and Philippe Bailet. GHC has 58 employees serving a customer base of industrial, pharmaceutical, and agriculture customers.
“The acquisition of GHC is a transformational investment for EverZinc that provides product and market expansion through world class facilities in Quebec,” said Andrew Nikou, OpenGate Capital’s Founder and CEO. “OpenGate’s strategy is to build both organic and inorganic growth for the businesses in which we invest. Earlier this year OpenGate launched OGx, a new digital optimization capability, to grow EverZinc and now GHC. Through the investment in GHC, and the OGx platform, we are confident that EverZinc’s global product offering will better serve its customers.”
“We are incredibly proud of completing this acquisition as the business provides many accretive aspects to EverZinc,” said Fabien Marcantetti, managing director of OpenGate’s Paris office. “Stephan and Philippe have driven advancements in the business, and we are looking forward to working with them in the many months ahead.”
EverZinc has four product lines: fine zinc powders, zinc oxide, ultra-fine zinc powder, and zinc powders for batteries. Industrial operations are in Belgium, the Netherlands, Norway, China, and Malaysia. Close to 175,000 tons of materials are produced from eight facilities. EverZinc products are used in a wide variety of applications, including anti-corrosion paints, tires, pharma/chemicals, ceramics and glass, sunscreen, and alkaline batteries.
Established in 2005, OpenGate has executed more than 30 acquisitions ranging from corporate divestitures to turnaround acquisitions, industry consolidations, and other special-situation investments with private sellers across North America and Europe.