Sector News

Valtris Specialty Chemicals acquires INEOS businesses

August 2, 2018
Chemical Value Chain

H.I.G. Capital, LLC (“H.I.G.”), a leading global private equity investment firm with over $25 billion of equity capital under management, is pleased to announce that its portfolio company, Valtris Specialty Chemicals (“Valtris”), has acquired INEOS ChloroToluenes (“ICT”) and INEOS Baleycourt (“Baleycourt” and, together with ICT, the “Companies”) from INEOS Enterprises. The combination creates a global specialty chemicals business with a broad product portfolio, strong technical capabilities and world-class customer service.

With production facilities in Belgium and the Netherlands, ICT is a leading producer of chlorinated toluenes and related derivatives that are used in coatings, flavor & fragrance, personal care and pharmaceutical applications. Based in northeast France, Baleycourt produces high-quality products that serve the polymer additives, lubricant, renewable energy and food markets.

Paul Angus, CEO of Valtris commented, “ICT and Baleycourt are highly strategic acquisitions with strong secular growth drivers that significantly enhance our product portfolio, expand our European presence and strengthen our technology and production capabilities. We are excited to offer our customers an even broader solution offering and pursue the attractive, new growth opportunities that the acquisitions create.”

Ashley Reed, CEO of INEOS Enterprises added, “We are proud of ICT and Baleycourt’s accomplishments as part of the INEOS family. Both Companies have built industry leading businesses with reputations for product quality, service reliability and customer satisfaction. We are confident that the Valtris team is the right partner for ICT, Baleycourt, and their employees.”

Keval Patel, Managing Director at H.I.G. commented, “We are pleased to add ICT and Baleycourt to the Valtris platform. The Companies have achieved impressive growth and have capabilities that are highly complementary to Valtris. We look forward to continuing to support the Valtris team and are very excited about the future prospects of the business.”

H.I.G. currently has seven active portfolio investments in the chemicals sector, and ICT and Baleycourt represent H.I.G.’s 17th and 18th acquisitions in the sector since 2008.

Source: Valtris

comments closed

Related News

May 15, 2022

New York’s EPR and packaging reduction bills lauded as game-changers in plastic pollution battle

Chemical Value Chain

The US State of New York is introducing two new bills to combat over-packaging, poor recycling rates and litter issues, including an Extended Producer Responsibility (EPR) program requiring companies such as McDonald’s and Amazon to pay for the cost of packaging disposal and recycling.

May 15, 2022

Borealis and Reclay launch entity focused on lightweight packaging 

Chemical Value Chain

The new organization’s mission is to redesign the critical steps of the plastics sorting and recycling system for post-consumer lightweight packaging (LWP) to speed up circularity, born from a need to meet the rising market demand for high-quality recyclates for use in high-end plastic applications.

May 15, 2022

Starbucks and Hubbub launch reusable packaging fund as COVID-19 diminishes consumer appetite

Chemical Value Chain

Starbucks and Hubbub have launched a £1 million (US$1.22 million) “Bring It Back Fund” to increase the uptake of reusable packaging in the F&B industry. The funding will go toward innovative ideas that make it easier for customers to use alternatives to single-use packaging by supporting pilot projects that help shift consumption habits.