Perstorp to sell caprolactone business to Ingevity for €590 mn
Perstorp has agreed to sell its caprolactone business, Capa to Ingevity, for approximately €590 million. The deal includes the production site in Warrington. The transaction is expected to close the transaction in the first quarter of 2019.
Under Perstorp’s leadership during the last 10 years, Capa’s operating margins have increased by almost 50 percent 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. Ingevity will acquire Perstorp UK Ltd including Perstorp’s entire caprolactone business.
The sale of Capa will unlock significant value and is in line with Perstorp’s track record of successful divestments such as most recently the BioFuels Business and in 2017, the Belgian site in Gent.
Read More: Perstorp to caprolactone business to for €590 mn