BEVERLY HILLS, CA - January 12, 2009 – OpenGate Capital, a Beverly Hills-based principal investment firm, has named industry veteran Robert Lezec as Partner, it was announced today by Andrew Nikou, OpenGate Founder and Managing Partner. In December 2008, OpenGate announced it had closed a deal to acquire TV Guide Magazine, the leading television entertainment magazine in the nation, with over 20 million readers.
In his new role, Lezec assumes responsibility for global transaction execution and oversight of OpenGate’s portfolio of acquired companies. With over 20 years of international private equity, C-level management and consulting experience, he brings to OpenGate broad sector and transactional expertise across a multitude of industries including, media, IT, telecommunications, manufacturing and retail & distribution, among many others.
In making the announcement, Nikou said, “We are delighted to have an executive of Robert’s immense insight and talent join our senior management team. The depth and breadth of his investment and operational experience as well as his international expertise make him an ideal partner.” Nikou added, “The recent TV Guide Magazine acquisition was a perfect opportunity to formalize this partnership and I look forward to our future successes.”
“I’m extremely excited to become a part of this smart, innovative and energetic firm,” said Lezec. “I look forward to working with Andrew and the rest of the OpenGate team during this extraordinary time as we seek new opportunities to acquire and develop companies with significant potential for growth and enhanced profitability.”
Lezec previously served as Chairman and Managing Partner of Paris-based Naxos Capital Partners, a private investment firm he founded in early 2007 focused on acquiring and developing small to lower mid-cap U.S. and European companies. Through this new partnership appointment, Lezec will also combine the activities of his firm Naxos Capital Partners with those of OpenGate Capital. He will be based in the firm’s Paris, France offices.
Prior to his role as Managing Partner of Naxos Capital Partners, he was Vice President of M&A and Portfolio Operations for the global buy-out firm Platinum Equity, where he was responsible for transaction execution and asset management throughout Europe, as well as implementing major operational and financial performance improvements across the firm’s portfolio of acquired companies.
Lezec previously worked for Schlumberger’s global M&A team where he executed several strategic acquisitions and divestitures and led numerous major corporate reorganization initiatives. While at Schlumberger, Lezec founded and served as Vice President and General Manager of the firm’s Mobile Telecommunications Solutions division, focused on providing advanced software and professional services to the fast growing mobile telecommunications industry. Lezec subsequently co-founded and was President and CEO of Indiqu, the world’s first global provider of entertainment content for mobile phones, a firm he sold in 2002 to Mforma, now Hands-on Mobile.
Lezec has also worked for such leading management consulting firms as Booz-Allen & Hamilton and KPMG where he was involved in a multitude of growth and turn-around driven engagements. Lezec began his career in research & development, working for companies including Thermo Electron Corporation and the Cambridge, MA based Charles Stark Draper Laboratory.
Lezec received Bachelor and Master of Science degrees in mechanical engineering from the Massachusetts Institute of Technology and an MBA from INSEAD in France.
About OpenGate Capital
OpenGate Capital is an opportunistic private equity firm that acquires controlling interests in businesses with solid fundamentals which exhibit opportunities for operational improvements and growth. Established in 2005, OpenGate Capital has a global footprint with headquarters in Beverly Hills, California and a principal office in Paris, France. OpenGate is served by a seasoned team of M&A and operating professionals that bring the skills needed to acquire, operate and build successful companies. The partners of OpenGate have executed over 50 transactions worldwide ranging from corporate divestitures, turnaround acquisitions, industry consolidations and other special situations investments across a wide array of industries and geographical markets.
For more information on OpenGate, please visit our website at www.opengatecapital.com
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