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