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OpenGate Capital, a global private equity firm, announced today the close of its sale of Bois & Matériaux (“B&M”) to Chausson Matériaux, a major building materials distribution company. The agreement was initially signed in January 2021 and terms were not disclosed.
With headquarters in Pacé, France, and more than 130 branches in the country, B&M is one of the leading building materials distributors in France. During the five-year period the business was owned by OpenGate, the business was fully revitalized under the leadership of CEO Yves Martin, and with the support of OpenGate’s operations team.
Julien Lagrèze, Partner and Head of Europe at OpenGate Capital, commented, “When we first looked at B&M, we saw a business that was underperforming and had vast opportunity. Our deep knowledge of investing in France and understanding of the building materials market motivated us to acquire the opera