Ingevity Completes Acquisition of Capa™ Caprolactone Division of Perstorp Holding AB

3/22/2019

Ingevity Corporation (NYSE:NGVT) has completed its acquisition of the Capa™ caprolactone division of Perstorp Holding AB for a cash purchase price of €578.9 million ($652.5 million). The acquisition is expected to be accretive to Ingevity’s earnings and margins in the first year.

Capa is the global market leader in the production and commercialization of caprolactone and high-value downstream derivatives, including caprolactone polyols, caprolactone thermoplastics, caprolactone lactides, and hexanediol (HDO). The division’s products are key components in adhesives, bioplastics, coatings, elastomers and resins. The business operates a manufacturing facility in Warrington, England, U.K., and employs approximately 100 employees. Ingevity will include the business in the company’s Performance Chemicals segment and report revenues as “Engineered Polymers.”
 
“The Capa division is a strong, market-leading business focused on highgrowth end-use applications and is an excellent fit with Ingevity’s business model and capabilities,” said Michael Wilson, Ingevity president and CEO. “We are very pleased to be adding such a unique business to our company; one that will provide new avenues for strategic growth. Moreover, we’re excited to welcome our new employees in Warrington and across the globe,” he said. Ingevity: Purify, Protect and Enhance

Ingevity provides specialty chemicals and high-performance carbon materials and technologies that purify, protect and enhance the world around us. Through a team of talented and experienced people, Ingevity develops, manufactures and brings to market products and processes that help customers solve complex problems. These products are used in a variety of demanding applications, including asphalt paving, oil exploration and production, agrochemicals, adhesives, lubricants, publication inks and automotive components that reduce gasoline vapor emissions. Headquartered in North Charleston, South Carolina, Ingevity operates from 25 locations around the world and employs approximately 1,700 people. The company is traded on the New York Stock Exchange (NYSE: NGVT).

 

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