Ingevity to Sell Some Assets for Up to $129 Million

Dow Jones

Sep 04

By Colin Kellaher

Ingevity has struck a deal to sell its North Charleston, S.C., crude tall oil refinery assets and the majority of its performance chemicals industrial specialties product line for up to $129 million.

Ingevity on Thursday said the sale to Mainstream Pine Products will result in net proceeds of about $110 million at closing, slated for early 2026, along with up to $19 million in potential contingent payments.

The maker of specialty chemicals and carbon materials said it expects the assets it is selling to generate revenue of about $130 million this year.

Ingevity said the sale reduces its portfolio volatility and strengthens its margin and cash flow profile, adding that it continues to advance its portfolio review with a focus on sustainable growth and profitability.

Write to Colin Kellaher at colin.kellaher@wsj.com

(END) Dow Jones Newswires

September 04, 2025 07:03 ET (11:03 GMT)

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