Pavement marking materials company Ozark Materials acquired by Ingevity
Ingevity Corporation today announced that it has completed its previously disclosed acquisition of privately-owned Ozark Materials in an all-cash transaction valued at $325 million. Ingevity expects the acquisition to be immediately accretive to Ingevity’s earnings per share. The business will be included in Ingevity’s Performance Chemicals segment.
Ozark Materials is a leading producer of pavement marking materials, including thermoplastic pavement markings, waterborne traffic paints and preformed thermoplastics. The company supplies specialty materials for roadway applications throughout the United States and Canada, for a customer base that includes state departments of transportation, civil and highway contractors, cities, universities and airports.
Included in the acquisition is Ozark Logistics, which provides transportation support primarily for the materials business. Ozark Materials is headquartered in Greenville, Alabama, and operates through four manufacturing locations, a logistics office and a distribution centre.
“Ozark Materials is a strong, market-leading business that strengthens our position in the paving construction industry, while moving us one step downstream where we can better serve our end customers,” said John Fortson, Ingevity president and CEO. “As a leading player within the pavement marking materials industry, Ozark is an excellent fit with Ingevity’s business model and capabilities. We are excited to welcome our newest employees to Ingevity.”
Ingevity
Ingevity provides products and technologies that purify, protect and enhance the world around us. Through a team of talented and experienced people, we develop, manufacture and bring to market solutions that help customers solve complex problems and make the world more sustainable. We operate in two reporting segments: Performance Chemicals, which includes specialty chemicals and engineered polymers, and Performance Materials, which includes high-performance activated carbon.
These products are used in a variety of demanding applications, including asphalt paving, oil exploration and production, agrochemicals, adhesives, lubricants, publication inks, coatings, elastomers, bioplastics and automotive components that reduce gasoline vapor emissions. Headquartered in North Charleston, South Carolina, Ingevity operates from 31 locations around the world and employs approximately 2,050 people.
