Perstorp Agrees To Sell Caprolactone Business To Ingevity
Dec. 11, 2018
The sale includes the production site in Warrington, England.
Specialty chemicals company Perstorp agrees to sell Capa, its caprolactone business, including the production site in Warrington, to Ingevity for approximately €590 million. The business has annual revenues of approximately €150 million, according to the company.
Under Perstorp’s leadership during the last 10 years, Capa’s operating margins have reportedly increased by almost 50% by investing in production and new product lines, which in turn have increased both the customer base and the geographic reach. Ingevity will acquire Perstorp UK Ltd including Perstorp’s entire caprolactone business. The sale of Capa will reportedly enable the Perstorp Group to focus its business opportunities and future growth prospects on its polyol, oxo and feed businesses.
The transaction is subject to certain regulatory approvals and other customary closing conditions, and Perstorp expects to close the transaction in the first quarter of 2019.
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