HIG's Valtris bolts-on Ineos divisions

Ineos Baleycourt and ICT were previously part of Switzerland-headquartered Ineos Enterprises. With roots dating back to the 1940s, the group today comprises a portfolio of businesses manufacturing chemical products in northern Europe. Ineos Enterprises generates a turnover of around €2bn, employing 2,000 people across sites in the UK, France, Germany, Sweden, Switzerland, Belgium, the Netherlands and the US.

HIG is no stranger to the sector, currently managing seven active portfolio investments in the chemicals sector. Baleycourt and ICT are the GP's 17th and 18th acquisitions in the sector completed since 2008.

HIG purchased a majority stake in Ferro Corporation's Polymer Additives Division in 2014, which was rebranded as Valtris Specialty Chemicals following the deal. The US-headquartered business is a manufacturer of speciality chemicals primarily used as additives in the production and processing of plastics. Valtris operates seven manufacturing facilities globally: five within the US, one in the UK and one in India.

Company
Ineos Baleycourt, based in France, near Verdun, manufactures products serving the polymer additives, lubricants, renewable energy and food markets. Generating a turnover of €250m, the business employs 150 people.

ICT's production facilities are mostly in Belgium, in Tessenderlo, and in the Netherlands, in Maastricht. The company produces chlorinated toluenes and related derivatives that are used in coatings, flavour and fragrance production, personal care, and pharmaceutical applications. The business has a headcount of 100.

People
Valtris – Paul Angus (CEO).
Ineos Enterprises – Ashley Reed (CEO).
HIG Capital – Keval Patel (managing director).

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