Century City-based private equity firm OpenGate Capital’s recently purchased Kongsberg Precision Cutting Systems has acquired MultiCam, a manufacturer and distributor of precision-cutting machine tools.

The OpenGate unit bought Dallas-based MultiCam from Texas firm Rosewood Private Investments, which had owned the high-speed machine tool business since May 2014.

Terms of the acquisition were not disclosed.

In April, OpenGate Capital purchased Kongsberg Precision Cutting Systems from Esko-Graphics, a Belgian software manufacturer. MultiCam is OpenGate’s first bolt-on acquisition for Kongsberg.

A platform company is used by a private equity company to build up like businesses through bolt-on purchases.

Kongsberg was established in 1965 and has 400 employees with operations in Belgium, the Czech Republic and Norway.

The acquisition of MultiCam, including its operations in the U.S. and sales offices in Canada and Germany, expands Kongsberg’s’ market reach and customer base across North America and Europe.

MultiCam will continue to operate under the same name within Kongsberg, with MultiCam Chief Executive David Morse joining Kongsberg’s senior management team and continuing to lead the MultiCam business. Founded in 1989, MultiCam has about 130 employees serving customers in the industrials, manufacturing, packaging, and signage and display sectors.

Kongsberg President Stuart Fox said that the combined business plans to explore new markets.

MultiCam is the 10th transaction for OpenGate this year within the private equity firm’s second institutional fund, OpenGate Capital Partners II & II-A LP.

OpenGate closed the fund in November 2019 at approximately $585 million, which was 30% higher than the firm’s initial target of $450 million.

OpenGate is led by founder and chief executive Andrew Nikou. The firm has made more than 30 acquisitions since its launch in 2005 and has seen a steady uptick in its portfolio activity this year. OpenGate managed more than $1 billion in assets as of the end of 2020.

The firm, which also has an office in Paris, invests in companies that generate up to $1 billion in revenue annually. The acquisition highlights OpenGate’s long history of investing in Europe, as well as its focus within the industrial sector.