# Westlake Chemical offers to acquire NAKAN from OpenGate Capital for $270M

Westlake Chemical Corporation made a binding offer to acquire NAKAN (Ivy Group Holding SAS), a PVC compounding solutions business, from OpenGate Capital for approximately $270 million. The transaction is expected to close by early 2019.

- Type: Acquisition
- Announced: 2018-09-24
- Where: Reims, France, France
- Value: $270.0M
- Status: announced
- Products: PVC compounding solutions
- Sectors: [Specialty Chemicals](https://endata.com/sectors/specialty-chemicals.md), [Plastics and Polymers](https://endata.com/sectors/plastics-polymers.md)

## Companies

- [OpenGate Capital](https://endata.com/companies/19786.md)
- [OpenGate Capital](https://endata.com/companies/19786.md) (partner)
- [Westlake Chemical](https://endata.com/companies/23414.md) (acquirer)
- [NAKAN](https://endata.com/companies/34491.md) (target)

## Sources

- [marketscreener.com](https://www.marketscreener.com/quote/stock/WESTLAKE-CORPORATION-14877/news/Westlake-Chemical-Corporation-made-a-binding-offer-to-acquire-Kem-One-Innovative-Vinyls-SAS-from-Ope-34569869/), 2018-09-24: "The combination of NAKAN with Westlake’s existing compounding business will present an excellent strategic fit."
- [westlake.com](https://westlake.com/news/westlake-chemical-announces-offer-acquire-nakan-pvc-compounding-solutions-business-0), 2018-09-25: "The combination of NAKAN with Westlake’s existing compounding business will present an excellent strategic fit."
- [westlakevinnolit.com](https://www.westlakevinnolit.com/en/acquisition-of-nakan-by-westlake-chemical/), 2018-09-25: "Today, Westlake Chemical Corporation (NYSE: WLK) announced that it has made a binding offer to acquire NAKAN, a global compounding solutions business."
- [opengatecapital.com](https://opengatecapital.com/news/opengate-capital-signs-exclusivity-agreement-to-sell-nakan-to-westlake-chemical-corporation/), 2018-09-25: "OpenGate Capital, a global private equity firm, announced today that it has signed an exclusivity agreement with Westlake Chemical Corporation... to acquire NAKAN..."
- [cen.acs.org](https://cen.acs.org/business/Business-Roundup/96/i39), 2018-09-28: "Westlake Chemical has offered to acquire Nakan, a French maker of polyvinyl chloride compounds, from the private equity firm OpenGate Capital for about $265 million."
- [doi.org](https://doi.org/10.1021/cen-09639-buscon18), 2018-10-01: "Westlake Chemical has offered to acquire Nakan, a French maker of polyvinyl chloride compounds, from the private equity firm OpenGate Capital for about $265 million."

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Data from Endata (https://endata.com/). Announcements are summarized from public sources and may be incomplete; check the linked originals.