Ingevity Corporation has announced a definitive agreement to sell its North Charleston CTO refinery assets and most of its Performance Chemicals Industrial Specialties product line to Mainstream Pine Products, LLC. The transaction, valued at approximately $110 million in cash with a potential contingent payment between $0 and $19 million based on future business performance, is expected to close by early 2026, pending customary conditions. The agreement includes a supply deal where Mainstream will provide certain refinery products to Ingevity's Road Technologies line and a toll-manufacturing arrangement where Ingevity will process certain products for Mainstream. Additionally, the companies will enter into a reciprocal plant operating agreement for post-closing operations at the North Charleston CTO refinery.