Ingevity to acquire pavement marking materials business Ozark Materials for $325M

Aug. 02, 2022 4:43 PM ETIngevity Corporation (NGVT)By: Anuron Mitra, SA News Editor

M&A abbreviation - mergers and acquisitions, on wooden cubes on a light background.

Nastassia Samal

  • Ingevity (NYSE:NGVT) on Tuesday said it would acquire privately-owned Ozark Materials, a producer of pavement marketing materials, in an all-cash transaction valued at $325M.
  • The agreement also includes the acquisition of Ozark Logistics.
  • NGVT expects the deal to be immediately accretive to its EPS.
  • NGVT also anticipates that Ozark will create revenues of about $150M and EBITDA margins of about 20% during 2023.
  • Alabama-based Ozark produces materials such as thermoplastic pavement markings and waterborne traffic paints. It supplies specialty materials for roadway applications throughout the U.S. and Canada.
  • Ozark Logistics is a logistics provider operating a fleet of vehicles located in five states across the U.S.
  • Ingevity (NGVT) separately announced a $60M investment for a stake in UK-based lithium-ion anode materials producer Nexeon.
  • The company also reported its Q2 results.

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