12 Facts About OpenGate Capital

OpenGate Capital's parents left their native Tehran before the Iranian Revolution and relocated to Canada, later moving with Nikou to California when he was four years old.

Under Nikou's leadership, OpenGate Capital bought founder-owned businesses and divisions of Fortune 500 companies such as Philips, Schlumberger, Arvin Meritor, Stora Enso and Cascades.

In 2008, Nikou negotiated the deal for OpenGate Capital to acquire TV Guide for $1 and $50 million in assumed liabilities from owner Rovi Corporation .

Also in 2009, OpenGate Capital purchased children's publishers Fleurus Presse and Junior Hebdo from Groupe Le Monde.

Also in 2019, OpenGate Capital purchased the UK-based Duraco Specialty Tapes, which then acquired Infinity Tapes the following year.

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In 2018, OpenGate Capital acquired the Italian stove and fireplace manufacturer Jotul from the European private equity group Ratos.

In 2012, through the firm's legacy, pre-fund investment process, OpenGate Capital acquired the Latin American operations of Getronics from the Dutch conglomerate, KPN.

In November 2016, OpenGate Capital completed the acquisition of the zinc products business of the Belgian company Umicore for $150 million in debt and equity.

OpenGate Capital rebranded the business EverZinc; within Umicore it had generated $425 million in revenue in 2015.

Several pre-fund, legacy investments that were made with the personal capital of Andrew Nikou and the Partners at OpenGate Capital were sold: Benvic was sold to InvestIndustrial in December 2017, NorPaper Avot-Vallee was sold in 2018 to a private investor, and in January 2019, NAKAN was sold to Westlake Chemical Corporation.

In October 2019, OpenGate Capital closed on the firm's second institutional fund, OpenGate Capital Partners II, oversubscribed on its original $450 million target, with approximately $585 million in commitments.

Several lawsuits had been filed claiming OpenGate Capital and did not follow proper protocol under the WARN Act when firing hundreds of employees from both PennySaver and Hamilton Scientific.