Ingevity to acquire Capa caprolactone division of Perstorp Holding AB for €590m

Ingevity Corporation (NYSE:NGVT) reached an agreement with Perstorp Holding AB to acquire the Capa caprolactone division of Perstorp in a cash transaction valued at approximately €590m ($675m). The acquisition is subject to certain regulatory approvals and other customary closing conditions, and Ingevity expects to close on the transaction late in the first quarter of 2019. Capa is the global market leader in the production and commercialization of caprolactone and high-value downstream derivatives, including caprolactone polyols, caprolactone thermoplastics, caprolactone lactides, and hexanediol (HDO). “The Capa division is a strong, market-leading business focused on high-growth end-use applications, and as such is a complementary fit with Ingevity’s business model and capabilities,” said Michael Wilson, Ingevity president and CEO.