Ingevity To Acquire Capa Division Of Perstorp - Quick Facts

(RTTNews) - Ingevity Corp. (NGVT) announced an agreement with Perstorp Holding AB to acquire the Capa caprolactone division of Perstorp in a cash transaction valued at approximately 590 million euros (approximately $675 million). The division's products are key components in adhesives, bioplastics, coatings, elastomers and resins. The business operates a manufacturing facility in Warrington, England, U.K. The acquisition is expected to be immediately accretive to Ingevity's earnings in the first full year.

"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 CEO.