Ingevity agrees to sell CTO refinery and Industrial Specialties to Mainstream Pine Products for $110M cash

Ingevity Corp

All-cash deal: $110M at closing plus up to $19M contingent consideration; expected close by early 2026.
2025 revenue from sold assets ~$130M with low-to-mid single-digit EBITDA margins; to be reported as discontinued operations.
Ingevity affirms FY2025 guidance (ex-discontinued ops): sales $1.25-1.40B, adj. EBITDA $390-415M.
Supply agreement for Road Technologies products; toll-manufacturing and reciprocal plant operating agreements with Mainstream.
Transaction reduces portfolio volatility, strengthens margin/cash flow; proceeds to accelerate deleveraging.

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