Perstorp to divest Capa business, Warrington production site to Ingevity

Perstorp, a global leader in specialty chemicals headquartered in Sweden, is selling its caprolactone business, Capa,  including its production site in Warrington (UK), to US speciality chemicals company Ingevity for approximately €590 million. The business has annual revenues of approximately €150 million.

Under Perstorp’s leadership during the last 10 years, Capa’s operating margins have 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. This has made Capa a highly attractive asset, gaining interest among several potential buyers of which Ingevity now will be the new owner to continue to develop the long-term value of the business.

The sale will enable the Perstorp Group to focus its business opportunities and future growth prospects on its Polyol, Oxo and Feed businesses, maximising opportunities such as further building leadership in the polyol business, expand the markets for phthalate free plasticiser Pevalen, expand the markets for products within the animal nutrition area establishing its pro-environment solutions as the first choice (certified products based on renewable raw materials)

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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