MALMÖ, Sweden – Specialty chemicals provider Perstorp has agreed to sell Capa™, its caprolactone business, including the production site in Warrington, UK, to Ingevity, a specialty chemicals company located in North Charleston, North Carolina, for approximately €590 million. The business has annual revenues of approximately €150 million. Ingevity will acquire Perstorp UK Ltd. including Perstorp’s entire caprolactone business.
Under Perstorp’s leadership during the last 10 years, Capa’s operating margins have increased by almost 50% by investing in production and new product lines, which in turn have increased both the customer base and the geographic reach.