New ownership, new name - composite resins by Alta Performance Materials

• KPS Capital Partners & INEOS Enterprises close sale of INEOS Composites
• INEOS Composites now Alta Performance Materials
• New chapter for leading global manufacturer of unsaturated polyester resins, vinyl ester resins and gelcoats

DUBLIN, Ohio and BARCELONA, Spain, March 31, 2025 /PRNewswire/ -- On December 2, 2024, INEOS Enterprises announced it entered into an agreement to sell its composites business to KPS Capital Partners, LP ("KPS"). The acquisition has now closed and, as of today, INEOS Composites has become a standalone company under KPS' ownership. The name of the new company is Alta Performance Materials ("Alta" or the "Company").

Headquartered in Dublin, Ohio, and Barcelona, Spain, Alta has approximately 900 employees and operates 17 manufacturing facilities and three technology centers across North and South America, Europe, Asia and the Middle East.

Andrew Miller appointed CEO of Alta Performance Materials

Andrew Miller, who served as the Chief Executive Officer of INEOS Composites, continues to lead Alta as the new Chief Executive Officer with the support of the existing senior management team.

"We are excited for this new chapter as an independent company.  We are proud of the organization we have built and look forward to driving innovation and excellence as a company dedicated to elevating performance in composites.  Becoming an independent company fully focused on composites gives us a unique opportunity to drive development of the future of composite materials to win together with our customers," said Andrew Miller, CEO of Alta Performance Materials. "We couldn't be happier to partner with KPS in this next phase given their extensive track record of establishing and growing world class industrial companies."

Focus on innovation, continuous improvement and customer experience

KPS, Alta's new owner, is a leading global private equity firm with decades of experience successfully transforming its portfolio companies into industry-leading competitors in the industrial and manufacturing sectors.

"We will leverage KPS' successful, multi-decade experience of investing in process industries, along with our commitment to manufacturing excellence and global network, to drive profitability and create an entrepreneurial culture centered on innovation, continuous improvement and superior customer experience. We look forward to partnering with Chief Executive Officer, Andrew Miller, and the Alta Performance Materials team to accelerate the Company's value creation plan," said Raquel Vargas Palmer, Managing Partner of KPS.

Beginning of a new chapter

Alta is a trusted leader in high-performance composite resins with a legacy built on decades of innovation and chemical expertise, The Company has roots of origin in industry pioneers Dow, Neste, and later Ashland, and has continually evolved to meet the needs of its customers. Alta is entering an exciting new chapter as an independent company—one defined by agility, growth, and a renewed entrepreneurial spirit.  Alta is poised to deliver even greater value to its customers and partners through its relentless commitment to quality, reliability, and innovation. "We are excited to shape the future of composite resins with the same dedication our customers have come to expect—now with even greater flexibility to drive innovation forward," says Andrew Miller.

About Alta Performance Materials

Alta Performance Materials is a leading global manufacturer of unsaturated polyester resins, vinyl ester resins and gelcoats used in the production of plastic composites for a wide range of applications across large global end-markets including building materials, recreation, transportation and wind energy, among others. Alta sells a broad range of resins that allow customers to optimize certain characteristics of their products, including corrosion resistance, fire retardance, ultraviolet resistance, water and chemical resistance, thermal and electrical insulation, impact and scratch resistance, and high strength-to-weight ratios. For more information about Alta Performance Materials, visit www.altapm.com.

About KPS Capital Partners

KPS, through its affiliated management entities, is the manager of the KPS Special Situations Funds, a family of investment funds with approximately $19.7 billion of assets under management (as of December 31, 2024). For over three decades, the Partners of KPS have worked exclusively to realize significant capital appreciation by making controlling equity investments in manufacturing and industrial companies across a diverse array of industries, including basic materials, branded consumer, healthcare and luxury products, automotive parts, capital equipment and general manufacturing.  KPS creates value for its investors by working constructively with talented management teams to make businesses better, and generates investment returns by structurally improving the strategic position, competitiveness and profitability of its portfolio companies, rather than primarily relying on financial leverage. The KPS Funds' portfolio companies currently generate aggregate annual revenues of approximately $22.2 billion, operate 222 manufacturing facilities in 21 countries, and have approximately 58,000 employees, directly and through joint ventures worldwide (as of December 31, 2024, pro forma for recent acquisitions). The KPS investment strategy and portfolio companies are described in detail at www.kpsfund.com.

SOURCE Alta Performance Materials