OpenGate Forms New Platform

OpenGate Capital has formed Integrity Partners Group (IPG) to consolidate its investments in ChemSolv and Chemisphere, two regional chemical distributors.

In January 2022, to begin building a chemical manufacturing and distribution platform covering the entire United States, OpenGate acquired Chemisphere, a St. Louis, Missouri-based specialty solvent blender and chemical distributor; and ChemSolv, a Roanoke, Virginia-headquartered regional distributor of commodity and specialty chemicals.

Now under the IPG umbrella, the combined companies are a full-line chemical distribution platform  with more than 1,000 SKUs of high-purity solvents, industrial additives and modifiers, surfactants, lubricants and metalworking fluids, and diesel exhaust fluids. Specific products of IPG include acetone, ethanol, heptane, methanol, methyl acetate, isopropyl alcohol, and xylene.

In addition to its distribution capabilities, IPG also provides value added services including blending, packaging, quality testing, white-label formulations, logistics, repurchasing, and solvent recycling.

IPG has 2.7 million gallons of storage capacity, 80,000 gallons of blending capacity, 35,000 square feet of manufacturing space, 300,000 square feet of storage across 8 warehouses, and a private fleet of more than 50 trucks. The company operates across more than 43 states and several international locations, and its customers are active in the industrial, food and beverage, agriculture, personal care, life sciences, and coatings, adhesives, sealants, and elastomers (CASE) markets. IPG is led by CEO Darren Birkelbach and is headquartered in Roanoke, Virginia.

“Integrity Partners Group represents our commitment to continue delivering an exceptional experience for customers seeking world-class chemicals and ingredients with turnkey solutions,” said Mr. Birkelbach. “Our goal is to intensify our service-oriented platform with expanded capabilities in key geographies. At the same time, we will retain the integrity and customer focus, which have been the cornerstones of ChemSolv and Chemisphere. Both companies will also maintain their local brand as leading regional distributors for over 40 years.”

OpenGate invests in companies that have revenues from $50 million to $1 billion and specializes in corporate carve-outs and complex situations. The firm was founded in 2005 and is based in Los Angeles with an additional office in Paris.

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