M&A Deal Summary

INEOS Group AG Acquires Ashland - Composites Business & Butanediol Facility

On November 15, 2018, INEOS Group AG acquired chemicals company Ashland - Composites Business & Butanediol Facility from Ashland for 1.1B USD

Acquisition Highlights
  • This is INEOS Group AG’s 1st transaction in the Chemicals sector.
  • This is INEOS Group AG’s largest (disclosed) transaction.
  • This is INEOS Group AG’s 1st transaction in the United States.
  • This is INEOS Group AG’s 1st transaction in Kentucky.

M&A Deal Summary

Date 2018-11-15
Target Ashland - Composites Business & Butanediol Facility
Sector Chemicals
Buyer(s) INEOS Group AG
Sellers(s) Ashland
Deal Type Divestiture
Deal Value 1.1B USD

Target

Ashland - Composites Business & Butanediol Facility

Covington, Kentucky, United States
Ashland, Inc. - Composites Business & Butanediol Facility engages in unsaturated polyester resins, vinyl ester resins, and gel coats, while the BDO facility in Germany and related merchant products included in the agreement are part of Ashland's Intermediates and Solvents (I&S) segment.

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Buyer(S) 1

Buyer

INEOS Group AG

Rolle, Switzerland

Category Company
Sector Chemicals
Employees17,000
DESCRIPTION

INEOS is a global manufacturer of petrochemicals, speciality chemicals and oil products. It comprises 18 businesses each with a major chemical company heritage. Its production network spans 67 sites in 16 countries throughout the world. INEOS is a young company. It has grown to become a leading chemical company with sales today of around $40 billion.


DEAL STATS #
Overall 1 of 3
Sector (Chemicals) 1 of 3
Type (Divestiture) 1 of 3
State (Kentucky) 1 of 1
Country (United States) 1 of 2
Year (2018) 1 of 1
Size (of disclosed) 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-08-01 INEOS Baleycourt

Netherlands

INEOS Baleycourt is a producer of high-quality products that serve the polymer additives, lubricant, renewable energy and food markets.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2020-06-29 BP - Global Aromatics and Acetyls Business

Switzerland

BP plc - Global Aromatics and Acetyls Business comprise 15 sites across the world (5 in the Americas, 2 in Europe, and 8 in Asia) as well as 10 leading joint ventures. Aromatics provides the building blocks for the global polyester industry, the key to fibers, films, and packaging. Acetyls support a wide range of downstream industries in food flavoring and preservation, pharmaceuticals, paints, adhesives, and packaging.

Buy $5M

Seller(S) 1

SELLER

Ashland

Wilmington, Delaware, United States

Category Company
Founded 1924
Sector Chemicals
Employees3,800
Revenue 2.2B USD (2023)
DESCRIPTION

Ashland is a global specialty chemicals company. Ashland has three reportable segments: Specialty Ingredients, Performance Materials, and Valvoline. Specialty Ingredients is a global provider of cellulose ethers, vinyl pyrrolidones, and biofunctionals. Performance Materials is composed of two divisions: Composites and Intermediates/Solvents. Performance Materials is a global provider of unsaturated polyester resins and vinyl ester resins. Ashland was founded in 1924 and is based in Wilmington, Delaware.


DEAL STATS #
Overall 9 of 14
Sector (Chemicals) 7 of 10
Type (Divestiture) 7 of 12
State (Kentucky) 2 of 4
Country (United States) 9 of 14
Year (2018) 1 of 1
Size (of disclosed) 4 of 8
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2016-09-22 Valvoline

Lexington, Kentucky, United States

Valvoline is a worldwide producer and distributor of premium-branded automotive, commercial and industrial lubricants, and automotive chemicals. Valvoline markets Eagle One appearance products, Zerex antifreeze, SynPower performance products, Pyroil automotive chemicals and MaxLife products created for higher-mileage engines. Valvoline was founded 1866 and is based in Lexington, Kentucky.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2020-07-27 Ashland - Maleic Anhydride Business

Neal, West Virginia, United States

Ashland, Inc. - Maleic Anhydride Business is manufactured industrially on a large scale for applications in coatings and polymers.

Sell $100M