Folllowing approval by the European Commission, Solvay has completed the sale of its PVC compounding business, Benvic Europe, to US private equity investor OpenGate Capital.

The deal announced in April sees the transfer of the Belgian compounder with annual sales of €160 million and three production sites in France, Italy and Spain.

OpenGate previously acquired the France-based Kem One PVC polymerization business from Swiss-based Klesch Group business and the profile extrusion activities of another Belgian PVC specialist, Tessenderlo.

OpenGate said earlier the two acquisitions will have compounding capacity of 200,000 t/y. Profialis last reported sales of €80 million.