INEOS Enterprises has today completed the sale of its composites business to KPS Capital Partners, LP (“KPS”) for c.€1.7bn. This is an attractive deal that aligns with the potential future opportunities for the business. The new website for the business can be found at: www.ALTApm.com
The composites 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. Andrew Miller will remain CEO of the business going forwards.
The composites business is a global leader in producing resins and gelcoats that are used to make strong, lightweight composite plastics found in everything from cars and boats to buildings and electronics. Its resins and coatings help improve important product features such as fire and water resistance, protection from sunlight, insulation, and durability.
Ashley Reed, Chairman of INEOS Enterprises said, "We are very pleased to have completed this transaction with KPS, which will build on the strong foundation that INEOS has established over the past five years. We are confident that under KPS’s ownership, the business will continue to grow and succeed in the years ahead."
KPS manages investment funds with approximately $19.7 billion of assets under management (as of December 31, 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.
Raquel Vargas Palmer, Managing Partner of KPS Capital Partners, said, “We are thrilled to acquire INEOS Composites. The company’s leading market position and long-tenured customer base is a testament to its differentiated product quality, reliability and innovation. We will leverage KPS’ decades of experience investing in process industries and provide strategic support and capital to drive commercial and operational excellence. We look forward to partnering with Chief Executive Officer Andrew Miller and the INEOS Composites management team to accelerate the Company's value creation plan.”
INEOS was advised by Piper Sandler and Slaughter and May.
The new website for the business can be found at: www.ALTApm.com
ENDS
Media contacts
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Richard Longden. t: +41 7996 26123 |
INEOS PR |
Note to Editors
About INEOS Enterprises
INEOS Enterprises comprises a portfolio of businesses manufacturing chemical products in Northern Europe USA and Canada, with sales of €2.7bn around the world. The business is focused on the developing needs of its customers and rapid growth through investment in new products and manufacturing facilities or by acquisition. It employs c. 3,100 people across sites in the UK, Germany, Sweden, Switzerland, Canada and the USA. INEOS Enterprises is not part of the INEOS Group Holdings bank group. Visit www.ineosenterprises.com to learn more.
About KPS Capital Partners
KPS, through its affiliated management entities, is the manager of the KPS Special Situations Funds, a family of investment funds with approximately $19.7 billion of assets under management (as of December 31, 2024). For over three decades, the Partners of KPS have worked exclusively to realize significant capital appreciation by making controlling equity investments in manufacturing and industrial companies across a diverse array of industries, including basic materials, branded consumer, healthcare and luxury products, automotive parts, capital equipment, and general manufacturing. KPS creates value for its investors by working constructively with talented management teams to make businesses better and generates investment returns by structurally improving the strategic position, competitiveness, and profitability of its portfolio companies, rather than primarily relying on financial leverage. The KPS Funds’ portfolio companies currently generate aggregate annual revenues of approximately $22.2 billion, operate 222 manufacturing facilities in 21 countries, and have approximately 58,000 employees, directly and through joint ventures worldwide (as of December 31, 2024, pro forma for recent acquisitions). The KPS investment strategy and portfolio companies are described in detail at www.kpsfund.com.
