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COLAS (EPA:RE) - Colas Group to sell its waterproofing business to Opengate Capital

Directive transparence : information réglementée Opérations de l'émetteur (acquisitions, cessions...)

14/02/2019 17:45

PRESS RELEASE

Paris, February 14, 2019

COLAS GROUP TO SELL ITS WATERPROOFING BUSINESS TO OPENGATE CAPITAL

Colas Group announced today that it has agreed to sell SMAC to an affiliate of
OpenGate Capital. Financial terms of the agreement were not disclosed. The
divestiture is expected to be complete in the next 60-90 days.

SMAC is headquartered in Issy-les-Moulineaux, France, and is a global
manufacturer of waterproofing and building envelope solutions with two
divisions: SMAC Travaux and SMAC Industrie.

After Colas Group's acquisitions of Miller McAsphalt and Alpiq's rail
subsidiaries in 2018, Colas is refocusing on its strategic activities:
transport infrastructure and construction materials. The sale of SMAC will
reduce Colas revenues by an estimated EUR600 million but is not expected to
have a significant impact on Colas' operating income.

Upon OpenGate Capital's completion of acquiring SMAC, the business will join a
global portfolio of businesses which includes other industrial companies that
provide building materials and solutions.

This agreement has already been approved by Employee Representatives at SMAC
and Colas. Its full completion remains subject to the approval of merger
control authorities, including the French Competition Authority.

About Colas (www.colas.com)
Colas, a subsidiary of the Bouygues Group, is a world leader aiming to promote
transport infrastructure solutions for sustainable mobility. With 55,000
employees in more than 50 countries on five continents, the Group performs some
80,000 road construction and maintenance projects each year via 800
construction business units and 2,000 material production units.

In 2017, consolidated revenue at Colas totaled 11.7 billion euros (48% outside
of France). Net profit attributable to the Group amounted to 328 million euros.

About OpenGate Capital (www.opengatecapital.com)
OpenGate Capital is a global private equity firm specializing in the
acquisition and operation of businesses to create new value through operational
improvements, innovation and growth. Established in 2005, OpenGate Capital is
headquartered in Los Angeles, California with a European office in Paris,
France. OpenGate's professionals possess the critical skills needed to acquire,
transition, operate, build and scale successful businesses. To date, OpenGate
Capital, through its legacy and fund investments, has executed more than 30
acquisitions including corporate carve-outs, management buy-outs, special
situations and transactions with private sellers across North America and
Europe.

About SMAC (www.smac-sa.com)
One of the leading firms in waterproofing and facades, SMAC operates in
Mainland France, the French overseas departments, Morocco (Sofima) and South
America (Reali). Backed by 3,400 employees and a network of 70 profit centers
in France, SMAC performs more than 10,000 projects every year.

Specialized in building envelopes, SMAC is recognized for its technical
expertise on architectural facades and waterproofing projects. As a global
player in the segment, it has created a dedicated service and maintenance
business, called SMAC Assistance Service, in addition to Essemes Services for
fire safety maintenance. It also carries out energy renovation work on
buildings and photovoltaic installations.
In addition, SMAC boasts industrial subsidiaries and plants: Axter (membranes),
Skydome (skylights), Resipoly / Eurosyntec (synthetic resins).
In 2017, the consolidated revenue of SMAC amounted to 569 million euros.

Colas Media Contacts
Delphine Lombard (tel.: 06 60 07 76 17)
Rémi Colin (tel.: 07 60 78 25 74)
contact-presse@colas.fr

Colas Investor Relations Service
Jean-Paul Jorro (tel.: 01 47 61 74 23)
Zorah Chaouche (tel.: 01 47 61 74 36)
contact-investors@colas.fr

OpenGate Media Contacts
Alanna Chaffin
Telephone: +1 (310) 432-7000
achaffin@opengatecapital.com

Mike Sitrick (Sitrick & Company)
Telephone: +1 (310) 788-2850
mike_sitrick@sitrick.com

OpenGate Business Development Contact
Joshua Adams
Telephone: +1 (310) 432-7000
jadams@opengatecapital.com