INEOS Enterprises has sold its composites business to KPS Capital Partners, LP (hereinafter referred to as "KPS") for approximately 1.7 billion euros. This is a highly attractive transaction that aligns with the future growth opportunities of the business.

The composite materials business has an annual sales revenue of over 800 million euros, with 17 production bases and 3 technology centers located in Europe, North America, South America, Asia, and the Middle East, employing approximately 900 people in total. Andrew Miller will continue to serve as the CEO of this business.

Polyester resin for fireproof and waterproof composite materials

The composites business is one of the world's leading producers of resins and gel coats, with products used to manufacture strong, lightweight composite plastics widely applied in industries such as automotive, marine, construction, and electronics. Its resins and coatings enhance critical product properties, including fire resistance, waterproofing, UV protection, thermal insulation, and durability.

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

KPS manages approximately $19.7 billion in assets (as of December 31, 2024). The company has an outstanding track record in acquisitions and investments in the manufacturing and industrial sectors, covering multiple industries including basic materials, branded consumer goods, healthcare and luxury goods, automotive parts, capital equipment, and general manufacturing.

KPS Capital Partners Managing Partner Raquel Vargas Palmer stated, "We are very pleased to acquire the INEOS Composites business. The company's market leadership and long-standing customer base attest to the differentiated quality, reliability, and innovation of its products. Leveraging KPS's decades of experience in investing in process industries, we will provide strategic support and capital to the company to drive commercial and operational excellence. We look forward to working with CEO Andrew Miller and the INEOS Composites management team to accelerate the company's value creation initiatives."

Note: INEOS Composites is a global leader in the manufacturing of unsaturated polyester resins, vinyl ester resins, and gel coats. Its products are used in the production of plastic composites and are widely applied in fields such as building materials, recreation, transportation, and wind energy. The company is headquartered in Dublin, Ohio, USA, and Barcelona, Spain, employing approximately 900 people and operating 17 manufacturing plants and 3 technical centers across North America, South America, Europe, Asia, and the Middle East.