INEOS Completes Sale of Composites Business for €1.7 billion

INEOS Enterprises sold its Composites business to KPS Capital Partners on March 31 for approximately €1.7 billion. This is an attractive transaction that aligns with the potential future opportunities for the business.

The Composites business has annual sales totaling more than €800 million and employs approximately 900 people across 17 sites and three technical centers in Europe, North America, South America, Asia and the Middle East. Andrew Miller will continue as CEO of the business.

The Composites business produces world-leading resins and gel coatings used to make strong, lightweight composite plastics for automotive, marine, construction and electronics applications. Its resins and coatings help improve important product properties such as fire resistance, water resistance, sun protection, insulation and durability.

Ashley Reed, Chairman of INEOS Enterprises, said: "We are pleased to have completed this transaction with KPS, which will build on the strong foundation that INEOS has built over the past five years. We are confident that the business will continue to grow and succeed in the coming years under KPS' leadership."

KPS manages approximately $19.7 billion in investment funds as of December 31,2024. The firm has a strong track record of acquiring and investing in manufacturing and industrial companies across a range of industries, including basic materials, branded consumer products, healthcare and luxury goods, automotive components, capital equipment and general manufacturing.

Raquel Vargas Palmer, Managing Partner of KPS Capital Partners, said: "We are pleased to acquire INEOS Composites. The company's leading market position and long-standing customer base are 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 working with the INEOS Composites team to accelerate value creation."