Ingevity to sell CTO refinery and industrial specialties unit to Mainstream Pine for $110 million
Ingevity agreed on September 3, 2025, to sell substantially all assets of its industrial specialties product line and its North Charleston crude tall oil refinery to Mainstream Pine Products for $110 million in cash, plus up to $19 million in contingent payments tied to future EBITDA. The company expects the deal to close by early 2026 and says it will reaffirm its full-year 2025 guidance, adjusted for reclassifying the sold assets as discontinued operations.
Key points
- Cash purchase price of $110 million, subject to working capital adjustments, plus contingent consideration of $0 to $19 million
- Ingevity expects 2025 revenue from the assets being sold to be about $130 million, with EBITDA margins in the low-to-mid single digits
- Closing expected by early 2026; either party may terminate if the deal is not closed by January 31, 2026
- Ingevity affirms 2025 guidance of sales of $1.25 billion to $1.40 billion and adjusted EBITDA of $390 million to $415 million, excluding the reclassification
The filing
Written by AI (Anthropic Claude, claude-haiku-5-5) on Nov 8, 2026, 1:55 AM ET, from the text of the filing and its press-release exhibits only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on September 04, 2025.
Briefs are written by AI from the filing text (each brief's own page names the model) and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the model's reading of the filing for shareholders, not a price forecast. Not investment advice.