Ingevity expects to close on the transaction late in the first quarter of 2019.
Ingevity Corp. recently announced it has reached an agreement with Perstorp Holding AB to acquire the CapaTM caprolactone division of Perstorp in a cash transaction valued at approximately €590 million (approximately $675 million). Ingevity expects to close on the transaction late in the first quarter of 2019.
Capa expects revenues of approximately €150 million (~ $175 million). The acquisition is expected to be immediately accretive to Ingevity’s earnings in the first full year. Ingevity will include the business in the company’s performance chemicals segment and report revenues as engineered polymers.