INEOS Enterprises has announced an agreement to sell its INEOS Composites business to KPS Capital Partners, LP for approximately €1.7 billion. The deal is anticipated to close in the first half of 2025, pending regulatory approvals and consultation processes.

INEOS Composites is a prominent global manufacturer specializing in unsaturated polyester resins, vinyl ester resins, and gelcoats. These products are essential for producing plastic composites used in various applications across multiple industries. The business generates over €800 million in annual sales and employs around 900 people across 17 sites and three technology centers worldwide.

Ashley Reed, Chairman of INEOS Enterprises, highlighted the significant improvements in safety and financial performance achieved by INEOS Composites over the past five years. He noted that the business has strengthened its market position through enhanced product quality and operational capabilities, laying a solid foundation for future growth.

KPS Capital Partners, which manages approximately $21.4 billion in assets, has a strong history of investing in manufacturing and industrial sectors. The firm has successfully acquired companies across various industries, including basic materials, healthcare, and automotive parts.

Raquel Vargas Palmer, Managing Partner at KPS, expressed enthusiasm about acquiring INEOS Composites. She emphasized the company's strong market position and loyal customer base, attributing its success to high product quality and reliable technical services. KPS plans to leverage its extensive experience in process industries to enhance profitability and foster an innovative, customer-focused culture within INEOS Composites.

The transaction is being advised by Piper Sandler and Slaughter and May.