KPS Capital Partners to Acquire INEOS Composites for Approximately €1.7 Billion
KPS Capital Partners, LP has taken a significant step in the manufacturing and composite sector by announcing the acquisition of INEOS Composites from INEOS Enterprises Holdings II Ltd. This transaction, valued at an estimated €1.7 billion, marks KPS's commitment to enhancing its portfolio in the composite materials industry. The deal is expected to be finalized in the first half of 2025, pending regulatory approvals and consultation processes, particularly focusing on operations in France.
INEOS Composites is recognized globally as a prominent producer of unsaturated polyester resins, vinyl ester resins, and gel coats, which are crucial in the production of composite plastics across various significant markets such as construction materials, recreation, transportation, and wind energy. The product offerings allow customers to tailor specific product attributes, including corrosion resistance, fire retardancy, UV resistance, chemical resistance, thermal insulation, impact strength, scratch resistance, and favorable strength-to-weight ratios.
Headquartered in Dublin, Ohio, and Barcelona, Spain, INEOS Composites employs around 900 individuals, managing 17 production facilities and three technology centers across North America, Europe, Asia, and the Middle East. This acquisition solidifies KPS's strategy of investing in companies with robust market positions and proven growth trajectories.
Raquel Vargas Palmer, Managing Partner at KPS, expressed enthusiasm about the acquisition, highlighting INEOS Composites as a leader in specialized composite resins. She emphasized the company’s strong customer base and the exceptional quality of its products, providing a solid platform for future growth through KPS's experience in the process industry. KPS plans to leverage its extensive operational expertise and global network to enhance profitability and cultivate a culture of innovation and superior customer service in the newly acquired business.
Andrew Miller, the Chief Executive Officer of INEOS Composites, shared optimism about the transition to being an independent entity under KPS’s ownership. With KPS's notable track record in developing world-class industrial companies, he anticipates that this partnership will bolster INEOS Composites' capabilities to deliver innovative products and outstanding service to clients.
Ashley Reed, chairwoman of INEOS Enterprises, noted that INEOS Composites has undergone substantial improvements within the five years it has been part of INEOS Enterprises. Its strong safety and financial performance have laid a strong foundation for continued growth, with enhanced product quality and operational capabilities that will contribute to long-term success in the market.
To support this acquisition, KPS worked with a robust financial team. Legal advice for KPS was provided by Paul, Weiss, Rifkind, Wharton & Garrison LLP, while financial advisory was sourced from Piper Sandler. On the other side, Slaughter and May offered legal counsel to INEOS Enterprises. A consortium comprising Goldman Sachs Bank USA, Barclays, Citi, Intesa Sanpaolo – IMI CIB Division, and MUFG Bank has committed to providing the necessary financing to facilitate the acquisition.
INEOS Composites stands at the forefront of manufacturing unsaturated polyester and vinyl ester resins tailored for various global market applications, positioning itself as a key player in the construction, recreation, transportation, and renewable energy sectors.
Managing approximately $21.4 billion in assets, KPS Capital Partners has a history of generating robust asset growth through controlling share investments in manufacturing and industrial companies. KPS is known for its strategic approach to enhancing portfolio companies’ competitive positions, operations, and profitability across diverse sectors.
The acquisition underscores KPS's focus on significant investments in firms that are poised for future success, while INEOS Composites’ established market presence provides an exciting growth platform.
INEOS Composites is recognized globally as a prominent producer of unsaturated polyester resins, vinyl ester resins, and gel coats, which are crucial in the production of composite plastics across various significant markets such as construction materials, recreation, transportation, and wind energy. The product offerings allow customers to tailor specific product attributes, including corrosion resistance, fire retardancy, UV resistance, chemical resistance, thermal insulation, impact strength, scratch resistance, and favorable strength-to-weight ratios.
Headquartered in Dublin, Ohio, and Barcelona, Spain, INEOS Composites employs around 900 individuals, managing 17 production facilities and three technology centers across North America, Europe, Asia, and the Middle East. This acquisition solidifies KPS's strategy of investing in companies with robust market positions and proven growth trajectories.
Raquel Vargas Palmer, Managing Partner at KPS, expressed enthusiasm about the acquisition, highlighting INEOS Composites as a leader in specialized composite resins. She emphasized the company’s strong customer base and the exceptional quality of its products, providing a solid platform for future growth through KPS's experience in the process industry. KPS plans to leverage its extensive operational expertise and global network to enhance profitability and cultivate a culture of innovation and superior customer service in the newly acquired business.
Andrew Miller, the Chief Executive Officer of INEOS Composites, shared optimism about the transition to being an independent entity under KPS’s ownership. With KPS's notable track record in developing world-class industrial companies, he anticipates that this partnership will bolster INEOS Composites' capabilities to deliver innovative products and outstanding service to clients.
Ashley Reed, chairwoman of INEOS Enterprises, noted that INEOS Composites has undergone substantial improvements within the five years it has been part of INEOS Enterprises. Its strong safety and financial performance have laid a strong foundation for continued growth, with enhanced product quality and operational capabilities that will contribute to long-term success in the market.
To support this acquisition, KPS worked with a robust financial team. Legal advice for KPS was provided by Paul, Weiss, Rifkind, Wharton & Garrison LLP, while financial advisory was sourced from Piper Sandler. On the other side, Slaughter and May offered legal counsel to INEOS Enterprises. A consortium comprising Goldman Sachs Bank USA, Barclays, Citi, Intesa Sanpaolo – IMI CIB Division, and MUFG Bank has committed to providing the necessary financing to facilitate the acquisition.
About INEOS Composites
INEOS Composites stands at the forefront of manufacturing unsaturated polyester and vinyl ester resins tailored for various global market applications, positioning itself as a key player in the construction, recreation, transportation, and renewable energy sectors.
About KPS Capital Partners
Managing approximately $21.4 billion in assets, KPS Capital Partners has a history of generating robust asset growth through controlling share investments in manufacturing and industrial companies. KPS is known for its strategic approach to enhancing portfolio companies’ competitive positions, operations, and profitability across diverse sectors.
The acquisition underscores KPS's focus on significant investments in firms that are poised for future success, while INEOS Composites’ established market presence provides an exciting growth platform.
Topics Business Technology）
【About Using Articles】
You can freely use the title and article content by linking to the page where the article is posted.
※ Images cannot be used.
【About Links】
Links are free to use.