INEOS Enterprises has announced an agreement to sell its INEOS Composites business to KPS Capital Partners, LP (KPS) for an estimated €1.7 billion, with the deal expected to close in the first half of 2025, pending regulatory approvals and consultations, particularly concerning its French operations. The proposed sale follows a successful period for INEOS Composites, which generates annual sales of over €800 million and employs around 900 people across 17 sites and three technology centers located in Europe, North and South America, Asia, and the Middle East.

INEOS Composites is a prominent global manufacturer of unsaturated polyester resins, vinyl ester resins, and gelcoats. These products are used in the production of plastic composites for a wide variety of applications across major global markets. The resins offered by INEOS Composites allow customers to enhance the characteristics of their products, such as improving corrosion resistance, fire retardance, UV resistance, and chemical and water resistance. They also offer benefits like thermal and electrical insulation, impact resistance, scratch resistance, and high strength-to-weight ratios.

Ashley Reed, Chairman of INEOS Enterprises, emphasized the progress made by INEOS Composites over the past five years. He highlighted improvements in safety, financial performance, product quality, and operational capabilities, which have fortified its market position and laid the groundwork for future growth.

KPS Capital Partners, which manages investment funds with approximately $21.4 billion in assets (as of September 30, 2024), has a strong history of successful acquisitions in the manufacturing and industrial sectors. These include investments in basic materials, automotive parts, consumer goods, healthcare, and more. Raquel Vargas Palmer, Managing Partner at KPS, expressed excitement about acquiring INEOS Composites, praising its strong market position and loyal customer base. She noted the company’s excellent product quality, reliability, and technical service capabilities. KPS plans to build on its experience in process industries and leverage its global network to improve profitability and foster an entrepreneurial culture of innovation and continuous improvement at INEOS Composites.

KPS looks forward to working closely with INEOS Composites’ CEO Andrew Miller and the team to accelerate the company’s growth and value creation in the future.

INEOS Enterprises operates a diverse portfolio of businesses producing chemical products across Northern Europe, the USA, and Canada, generating global sales of €2.7 billion. The company is dedicated to meeting the evolving needs of its customers and driving rapid growth through investments in innovative products, expanded manufacturing facilities, and strategic acquisitions.

INEOS Composites is a global leader in manufacturing unsaturated polyester resins, vinyl ester resins, and gelcoats, essential for producing plastic composites. These materials are widely used across major industries, including building materials, recreation, transportation, and wind energy, among others.