OpenGate Capital has entered into exclusive negotiations with the Spanish firm MCH and Extol Founder & CEO Mr Fernando Busto to acquire Extol. The acquisition of Extol is related to the formation of a European group focused on the aluminium extrusion market including another company, Aluminium France Extrusion. Together, the business will be named Aluminium Solutions Group. The acquisition is expected to close later this year and financial terms were not disclosed. ASG will consist of four plants, three in France at Nantes, Saint-Florentin & Ham and one in Spain at Toledo and combined, the group will continue to supply extruded aluminium products to the European construction, transport, machinery, equipment, infrastructure, and consumer goods sectors, among others. ASG will employ around 800 people and offer a wide range of value-added services to extrusion such as lacquering, anodising, thermal break, cutting and machining.