INEOS Composites Acquired by KPS Capital Partners in €1.7 Billion Deal
Deal News | Dec 03, 2024 | PR Newswire Cision KPS Capital Partners, LP
KPS Capital Partners has announced the acquisition of INEOS Composites, a global leader in the manufacture of unsaturated polyester resins, vinyl ester resins, and gelcoats, from INEOS Enterprises Holdings II Ltd. The transaction is valued at approximately €1.7 billion and is expected to close in the first half of 2025, pending regulatory approvals. INEOS Composites, headquartered in Dublin, Ohio and Barcelona, Spain, is known for providing innovative composite material solutions used in wide-ranging sectors including construction, transportation, and wind energy. The company operates 17 manufacturing facilities and employs around 900 staff worldwide. Through this acquisition, KPS Capital Partners aims to leverage its extensive experience and global network to drive profitability and enhance corporate culture focused on innovation and customer service. Key figures include Raquel Vargas Palmer, Managing Partner at KPS, and Andrew Miller, CEO of INEOS Composites, who express optimism for collaborative growth and market leadership. Paul, Weiss, Rifkind, Wharton & Garrison LLP served as legal advisor to KPS, while financial advisory was provided by Piper Sandler. The transaction's financing will be supported by banks including Goldman Sachs and Barclays.
Sectors
- Manufacturing
- Private Equity
- Chemicals
Geography
- United States – INEOS Composites is headquartered in Dublin, Ohio, and has operations in the United States.
- Spain – INEOS Composites has its European headquarters in Barcelona, Spain.
- Global – The operations of INEOS Composites and the acquisition by KPS Capital Partners encompass a global network, including Europe, Asia, and the Middle East.
Industry
- Manufacturing – INEOS Composites is a manufacturer of unsaturated polyester resins, vinyl ester resins, and gelcoats, which are used in various industries.
- Private Equity – KPS Capital Partners, a private equity firm, is involved in the acquisition of INEOS Composites.
- Chemicals – INEOS Composites operates within the chemicals sector, producing specialized resins and gelcoats.
Financials
- €1.7 Billion – Estimated acquisition deal price for INEOS Composites by KPS Capital Partners.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| KPS Capital Partners | Acquirer | Company | A private equity firm with a focus on industrial companies. |
| INEOS Composites | Target Company | Company | A global manufacturer of composite materials, specializing in unsaturated polyester resins and gelcoats. |
| INEOS Enterprises Holdings II Ltd | Selling Company | Company | The parent company selling INEOS Composites as part of its portfolio. |
| Raquel Vargas Palmer | Managing Partner | Person | Managing Partner at KPS Capital Partners involved in the acquisition. |
| Andrew Miller | CEO | Person | Chief Executive Officer of INEOS Composites. |
| Ashley Reed | Chairman | Person | Chairman of INEOS Enterprises. |
| Paul, Weiss, Rifkind, Wharton & Garrison LLP | Legal Advisor | Company | Provided legal advice to KPS Capital Partners. |
| Piper Sandler | Financial Advisor | Company | Financial advisor for KPS Capital Partners in the transaction. |
| Slaughter and May | Legal Advisor | Company | Legal advisor for INEOS Enterprises. |
| Goldman Sachs Bank USA | Financing Provider | Company | Part of the bank consortium providing financing for the transaction. |
| Barclays | Financing Provider | Company | Part of the bank consortium providing financing for the transaction. |
| Citi | Financing Provider | Company | Part of the bank consortium providing financing for the transaction. |
| Intesa Sanpaolo - IMI CIB Division | Financing Provider | Company | Part of the bank consortium providing financing for the transaction. |
| MUFG Bank | Financing Provider | Company | Part of the bank consortium providing financing for the transaction. |