INEOS Enterprises has completed the sale of its composites business to KPS Capital Partners, LP (KPS) for c.€1.7bn on March 31, 2025. This deal aligns with the potential future opportunities for the business.

The composites business has combined sales of >€800m per year and employs -900 employees across 17 sites and 3 technology centres in Europe, North and South America, Asia, and the Middle East. Andrew Miller will remain CEO of the business going forward.

The composites business is a global leader in producing resins and gelcoats that are used to make strong, lightweight composite plastics found in everything from cars and boats to buildings and electronics. Its resins and coatings help improve important product features such as fire and water resistance, protection from sunlight, insulation, and durability.

Ashley Reed, Chairman of INEOS Enterprises, said, "We are very pleased to have completed this transaction with KPS, which will build on the strong foundation that INEOS has established over the past five years. We are confident that under KPS’s ownership, the business will continue to grow and succeed in the years ahead."

KPS manages investment funds with approximately $19.7 billion of assets under management (as of December 31, 2024).  The company has a strong track record of acquisitions and investments in manufacturing and industrial companies across a range of industries, including basic materials, branded consumer goods, healthcare, luxury products, automotive parts, capital equipment, and general manufacturing.

Raquel Vargas Palmer, Managing Partner of KPS Capital Partners, said, “We are thrilled to acquire INEOS Composites. The company’s leading market position and long-tenured customer base are a testament to its differentiated product quality, reliability, and innovation. We will leverage KPS’s decades of experience investing in process industries and provide strategic support and capital to drive commercial and operational excellence. We look forward to partnering with Chief Executive Officer Andrew Miller and the INEOS Composites management team to accelerate the Company's value creation plan.”