World leader in unsaturated polyester resins, Vinyl ester resin and gel coat
new york, December 3, 2024 /CNW/ — KPS Capital Partners, LP (“KPS”) today entered into a definitive agreement to acquire INEOS Composites (the “Company”) from INEOS Enterprises Holdings II Ltd (“INEOS”) through a newly formed affiliate. announced that it had signed. The estimated consideration upon completion is approximately EUR 1.7 billion. Completion of the transaction is expected to close in the first half of 2025, subject to regulatory approvals and a consultation process (the parties are in exclusive negotiations, particularly regarding the French operations).
KPS Logo (PRNewsfoto/KPS Capital Partners, LP)
INEOS Composites is a leading global manufacturer of unsaturated polyester resins, vinyl ester resins, and gelcoats, producing plastic composite materials for a wide range of applications across large end markets worldwide, including building materials, recreation, transportation, and wind energy. used in manufacturing. . INEOS Composites allow customers to optimize specific properties of their products, such as corrosion resistance, flame retardancy, UV resistance, water and chemical resistance, thermal and electrical insulation, impact and scratch resistance, and high strength. We sell a wide range of resins. Weight ratio. headquartered in dublin ohioand barcelona, spainINEOS Composites employs approximately 900 people and operates 17 manufacturing facilities and three technology centers in the North and North. south america, Europe, Asia and middle east.
Raquel Vargas Palmer“We are excited to acquire INEOS Composites, a leading global manufacturer of specialty composite resins,” said KPS Managing Partner, KPS. “This is a testament to our product quality, reliability, and strong technical capabilities.” Leveraging KPS’s decades of successful investment experience in process industries and our commitment to manufacturing excellence and global networks, we leverage KPS’s decades of experience in successful investments in process industries and our commitment to manufacturing excellence and global networks to drive profitability and enable entrepreneurial businesses centered on innovation and continuous improvement. We will create a culture. We look forward to partnering with the CEO. andrew miller The INEOS Composites team accelerates value creation opportunities for your company. ”
andrew miller“We are excited about our future as an independent company under the ownership of KPS,” said CEO of INEOS Composites. KPS is an ideal partner given its track record and commitment.” Our manufacturing, capital investment and research and development excellence, combined with our global platform and significant capital resources, enhance our ability to provide our customers with industry-leading products and superior service. ”
story continues
ashley reedThe Chairman of INEOS Enterprises said: “Composites has been part of INEOS Enterprises for the past five years, during which time we have achieved significant improvements in safety and financial performance. In addition, we have continued to improve our product quality, consistency, operational and commercial capabilities. and ensure a strong foundation for further growth in the future.”
Paul, Weiss, Rifkind, Wharton & Garrison LLP served as legal advisor to KPS. piper sandler Served as financial advisor to INEOS Enterprises, and Slaughter and May served as legal advisors. Commitment debt financing to support the transaction was provided by Goldman Sachs Bank. united states of americaBarclays, Citi, Intesa Sanpaolo – IMI CIB Division, and Bank of Mitsubishi UFJ.
About INEOS composites INEOS Composites is a world-leading manufacturer of unsaturated polyester resins, vinyl ester resins, and gelcoats, producing plastic composites for a wide range of applications across large end markets worldwide, including building materials, recreation, transportation, wind energy, and more. Used in the production of materials. INEOS Composites allow customers to optimize specific properties of their products, such as corrosion resistance, flame retardancy, UV resistance, water and chemical resistance, thermal and electrical insulation, impact and scratch resistance, and high strength. We sell a wide range of resins. Weight ratio. For more information about INEOS Composites, please visit www.ineoscomposites.com.
About KPS Capital Partners KPS, through its affiliated management companies, $21.4 billion Total assets under management (current) September 30, 2024). For more than 30 years, KPS partners have achieved significant growth by controlling equity investments in manufacturing and industrial companies across a variety of industries, including basic materials, consumer brands, healthcare and luxury goods, auto parts, and capital. We have been focused on achieving capital growth. Equipment, manufacturing industry in general. Rather than relying primarily on financial leverage, KPS relies on competent management to improve businesses and generate investment returns by structurally improving the strategic position, competitiveness, and profitability of portfolio companies. We create value for investors by working constructively with our stakeholders. The KPS Fund’s portfolio companies currently have annual total returns of approximately $23.7 billionoperates 251 manufacturing facilities in 30 countries and employs approximately 65,000 people worldwide, both directly and through joint ventures. September 30, 2024pro forma of recent acquisitions). KPS’ investment strategy and portfolio companies are further described at www.kpsfund.com.
About INEOS Enterprise INEOS Enterprises consists of a portfolio of businesses that manufacture chemical products. nordic, united states of america and Canadawith sales of 2.7 billion euros worldwide. The business focuses on evolving customer needs and rapid growth through investments in new products and manufacturing facilities, or through acquisitions. We are using c. 3,100 people across UK locations; Germany, Sweden, Switzerland, Canada and united states of america. INEOS Enterprises is not part of the INEOS Group Holdings banking group. For more information, please visit www.ineosenterprises.com.
Sision
View original content to download multimedia: https://www.prnewswire.com/news-releases/kps-capital-partners-to-acquire-composites-business-from-ineos-enterprises- 302321094.html
SOURCE KPS Capital Partners, LP
Sision
View original content to download multimedia: http://www.newswire.ca/en/releases/archive/ December2024/03/c6950.html
