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Ingevity completes $325M purchase of Ozark and subsidiary

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Ingevity Corp. has completed its previously disclosed acquisition of privately-owned Ozark Materials in an all-cash transaction valued at $325 million.

The business will be included in Ingevity’s Performance Chemicals segment, according to a news release.

Ozark Materials is a producer of pavement marking materials, including thermoplastic pavement markings, waterborne traffic paints and preformed thermoplastics, the news release stated. 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, Ala., and operates through four manufacturing locations, a logistics office and a distribution center.

North Charleston-based Ingevity in August announced plans to buy Ozark as well as a $60 million investment in another company, Nexeon Limited, as an entryway into the electric vehicle market. Nexeon, based in the United Kingdom, designs silicon-based anode materials that improve performance of lithium-ion batteries for EVs and consumer electronics.

“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,” John Fortson, Ingevity president and CEO, said in the release. “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 operates from 31 locations around the world and employs approximately 2,050 people, the company said.

Reach Ross Norton at 864-720-1222.

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