INEOS Enterprises finalized a sale. The sale involved its composites business. KPS Capital Partners, LP (“KPS”) bought the business. The transaction value was about €1.7 billion. This deal is attractive. It aligns with the business's potential future opportunities.

The composites business has significant sales. Its combined sales exceed €800 million per year. The business employs roughly 900 individuals. These employees work across 17 sites. The sites include 3 technology centers. These are located in Europe, North and South America, Asia, and the Middle East. Andrew Miller will continue as CEO of the business. This will be under the new ownership.

The composites business holds a leading global position. It produces resins and gelcoats. These materials are used to create strong, lightweight composite plastics. These plastics are found in various products. Examples include cars, boats, buildings, and electronics. The business's resins and coatings enhance product features. These features include fire resistance. They also improve water resistance. They offer protection from sunlight. They provide insulation and durability.

Ashley Reed is the Chairman of INEOS Enterprises. He commented on the transaction. "We are very pleased to have completed this transaction with KPS. KPS will build on the strong foundation. INEOS established this foundation over the past five years. We are confident. Under KPS’s ownership, the business will continue to grow. It will succeed in the years ahead."

KPS manages investment funds. These funds have approximately $19.7 billion of assets under management. This figure is as of December 31, 2024. The company has a strong track record. This includes acquisitions and investments. These investments are in manufacturing and industrial companies. These companies span various industries. These industries include basic materials. They also include branded consumer, healthcare, and luxury products. Automotive parts, capital equipment, and general manufacturing are also included.

Raquel Vargas Palmer is a Managing Partner at KPS Capital Partners. She shared her thoughts. “We are thrilled to acquire INEOS Composites. The company’s leading market position is strong. Its long-tenured customer base is a testament. It shows the company's differentiated product quality. Reliability and innovation are also key. We will leverage KPS’ decades of experience. This experience involves investing in process industries. We will provide strategic support and capital. This will drive commercial and operational excellence. We look forward to partnering with Chief Executive Officer Andrew Miller. We will also partner with the INEOS Composites management team. Our goal is to accelerate the company's value creation plan.”

The sale marks a strategic move for INEOS Enterprises. It allows the company to focus on other areas of its business. KPS Capital Partners brings significant experience in the manufacturing sector. Their investment aims to further strengthen and grow the composites business. The continued leadership of Andrew Miller provides stability. It also ensures continuity for the business's operations and strategic direction. The global reach of the composites business offers KPS a diverse portfolio. This spans multiple regions and end markets. The transaction is expected to benefit both INEOS Enterprises and the composites business under new ownership. It sets the stage for continued innovation and growth in the composite materials industry. KPS’s focus on operational excellence and strategic support suggests a positive outlook for the future of INEOS Composites.