Colas has sold its waterproofing business to OpenGate Capital

Today, Colas completed the sale of Smac to a subsidiary of OpenGate Capital.

The disposal agreement was signed on February 13, 2019, and all the conditions precedent, including approval by competition authorities, were lifted at the beginning of May.

Based in Issy-les-Moulineaux, France, Smac is a global player in its markets and provides waterproofing, sealing and cladding solutions through two divisions, Smac Travaux and Smac Industrie.

With this sale and in the wake of the acquisitions of the Miller McAsphalt Group and Alpiq Engineering Services' rail businesses in 2018, Colas is refocusing on its strategic activities, transport infrastructure and materials. The sale of Smac will not have a significant impact on Colas' operating profit.

With this acquisition by OpenGate Capital, Smac has now joined a global portfolio of businesses which includes other industrial companies that provide building materials and solutions.