INEOS Enterprises has completed the sale of its composites business for about €1.7 billion. KPS Capital Partners now owns the former INEOS business, which employs about 900 employees across 17 sites and three technology centres in Europe, North and South America, Asia and the Middle East.
“We are confident that under KPS’s ownership, the business will continue to grow and succeed in the years ahead,” said Ashley Reed, Chairman of INEOS Enterprises.
The composites business is a global leader in producing resins and gelcoats that are used to make strong, lightweight composite plastics found in everything from cars and boats to buildings and electronics.
Its resins and coatings help improve important product features such as fire and water resistance, protection from sunlight, insulation, and durability.