Ineos Enterprises enters agreement for the sale of Ineos Composites

INEOS Enterprises has entered into an agreement for the sale of the INEOS Composites business to KPS Capital Partners, LP (“KPS”) for an estimated consideration of c. €1.7bn at completion. The company believes this to be an attractive offer that aligns with the potential future opportunities for the business. The business has combined sales of more than €800m per year and employs c. 900 employees across 17 sites and 3 technology centres in Europe, North and South America, Asia and the Middle East.

The proposed deal is expected to be completed in the first half of 2025 subject to regulatory approvals and consultation processes (in particular, with respect to the French business, for which the parties have entered into exclusive negotiations).

INEOS Composites is a leading global manufacturer of unsaturated polyester resins, vinyl ester resins and gelcoats used in the production of plastic composites for a wide range of applications across large global end-markets. The business sells a broad range of resins that allow customers to optimise certain characteristics of their products, including corrosion resistance, fire retardance, ultraviolet resistance, water and chemical resistance, thermal and electrical insulation, impact and scratch resistance, and high strength-to-weight ratios.

KPS manages investment funds with approximately $21.4 billion of assets under management (as of September 30, 2024). The company has a strong track record of acquisitions and investments in manufacturing and industrial companies across a range of industries, including basic materials, branded consumer, healthcare and luxury products, automotive parts, capital equipment and general manufacturing.