OpenGate Capital Completes Cross-Border Acquisition of Zodiac Recreational

  OpenGate Capital Completes Cross-Border Acquisition of Zodiac Recreational

   Acquisition Sets Course for Entering New Year with Diversified Portfolio

Business Wire

LOS ANGELES & PARIS -- January 7, 2013

OpenGate Capital, LLC, a private investment and acquisition firm, announced
today it has acquired Zodiac Recreational from Zodiac Marine & Pool, a
portfolio company of The Carlyle Group (NASDAQ:CG). Terms of the transaction
were not disclosed.

Zodiac N-ZO 700. Photo by Bernard Biancotto

Zodiac N-ZO 700. Photo by Bernard Biancotto

Zodiac Recreational is the world’s leader in the design, manufacturing and
distribution of inflatable and Rigid Inflatable Boats (RIBs). Zodiac is the
most recognized brand in the nautical industry with an extensive range of
products including RIBs, recreational tenders, inflatable boats, jet tenders,
life rafts, and related boat accessories as well as two other branded lines of
products, Bombard and Avon. The acquisition of Zodiac Recreational included
two other business units, stratospheric balloons and multi-layer insulation,
both of which serve the aerospace industry. Zodiac Recreational employs 430
people throughout its main operations in France, Tunisia and the in the U.S.,
as well as its sales offices located in Spain, Italy, Germany, the United
Kingdom and Canada.

Mr. Andrew Nikou, OpenGate Capital’s founder, Managing Partner and CEO,
stated, “Zodiac Recreational joins the OpenGate portfolio, our family of
businesses, at an opportune time of disciplined growth and expansion. We
continue to seek out businesses around the world that can benefit from our
operational strategies, and Zodiac Recreational has all the characteristics
and challenges that we see as opportunities for growth. We are confident that
given the Zodiac brand heritage, extensive dealer network, and continued
strong demand for the Company’s product range, we can leverage these strengths
to create a much stronger and vibrant business than ever before.”

The acquisition of Zodiac Recreational represents OpenGate Capital’s sixth
transaction for the year 2012 including the acquisitions of Getronics LATAM
from KPN, “Réponse à Tout!” from Group Ayache, Hamilton Scientific from Thermo
Fisher Scientific, and the signed agreement to acquire Profialis from
Tessenderlo Group. Additionally, OpenGate Capital announced in December of
2012 that it successfully sold one of its earlier acquisitions, Gabriel Ride
Control, for a significant return on investment.

About OpenGate Capital

OpenGate Capital, LLC is a global private investment firm specializing in the
acquisition and operation of businesses seeking revitalization through growth
and operational improvements. Established in 2005, OpenGate Capital is
headquartered in Los Angeles, California, and maintains offices in Paris,
France, and São Paulo, Brazil. OpenGate’s seasoned professionals possess the
critical skills needed to acquire, transition, operate and build successful
businesses. To date, OpenGate Capital has executed more than 20 transactions
ranging from corporate divestitures to turnaround acquisitions, industry
consolidations and other special situation investments. The OpenGate portfolio
of wholly owned businesses generates nearly $2 billion in revenue and includes
businesses from a wide range of industries and geographic markets. For more
information, please visit www.opengatecapital.com.

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Contact:

OpenGate Capital Business Development Contact:
Joshua Adams, 1-310-432-7000
jadams@opengatecapital.com
or
OpenGate Capital Media Contact:
Alanna Chaffin, 1-310-432-7060
achaffin@opengatecapital.com
 
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