INEOS Enterprises is to sell its INEOS Composites business to KPS Capital Partners, for an estimated €1.7bn.
INEOS Composites business has combined sales of more than €800m per year and employs around 900 employees across 17 sites and three technology centres in Europe, North and South America, Asia and the Middle East.
The 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.
“Composites has been part of INEOS Enterprises for the past five years, during which time it has achieved significant improvements in safety and financial performance,” said Ashley Reed, chairman of INEOS Enterprises.
Future growth
“Furthermore, it has solidified its market position through enhanced product quality, consistency, and strengthened operational and commercial capabilities, ensuring a strong foundation for further future growth.”
Raquel Vargas Palmer, managing partner of KPS Capital Partners, added: “We are thrilled to acquire INEOS Composites, a leading global manufacturer of specialty composite resins.
“The company’s leading market position and long-tenured customer base is a testament to its differentiated product quality, reliability and strong technical service capabilities.”
INEOS Composites manufactures unsaturated polyester resins, vinyl ester resins and gelcoats used in the production of plastic composites for a wide range of applications.
