Slaughter and May is advising INEOS Enterprises on the sale of its Composites business to KPS Capital Partners, LP for an estimated consideration of c.€1.7bn at completion. The business has combined sales of more than €800m per year and employs c.900 employees across 17 sites and 3 technology centres in Europe, North and South America, Asia and the Middle East.
The proposed deal is expected to complete in the first half of 2025, subject to regulatory approvals and consultation processes (in particular, with respect to the French business, for which the parties have entered into exclusive negotiations).
INEOS Composites is a leading global manufacturer of unsaturated polyester resins, vinyl ester resins and gelcoats used in the production of plastic composites for a wide range of applications across large global end-markets. The business sells a broad range of resins that allow customers to optimise certain characteristics of their products, including corrosion resistance, fire retardance, ultraviolet resistance, water and chemical resistance, thermal and electrical insulation, impact and scratch resistance, and high strength-to-weight ratios.
Slaughter and May, led by partners Hywel Davies, Sally Wokes and Harry Hecht, has been working closely with the INEOS legal team, led by Robert Mace and Jennifer Clifton.
Santiago Urrecha Espluga / Visiting Lawyer, Isaac Swirsky / Trainee, Toby Rose / Trainee, Sabrina Lethenyey / Trainee