Eversheds Sutherland advises Ingevity Corporation on first major UK acquisition

A cross-border Eversheds Sutherland team has advised Ingevity Corporation on its €590m acquisition of Warrington-based Perstorp UK Limited, the caprolactone division of the wider Perstop Group.

The transaction, which is subject to regulatory approval and expected to close Spring 2019, is NYSE-listed Ingevity’s first major UK acquisition. It will increase the company’s range of products and geographic reach, while offering the potential for significant business growth.

The corporate team was led by Partners Nicola Brookes (UK) and Simon Masters (UK) alongside Associate Charlotte Singh (UK). Support was provided from the commercial, environmental, IP, employment and pensions, tax, real estate and banking teams including Partners Jonas Bratt (Sweden), Miriam Van Ee (Netherlands), and associates Douglas Dahlin (Sweden) and Laila Kouchi (Netherlands). Partner Meltem Kodaman (US) and Counsel Stephani Hildebrandt (US) provided advice on the US aspects of the transaction.

Eversheds Sutherland teams in Spain and Germany assisted competition Partner Kate Newman (UK) and Associate Todor Papanov (UK).

Nicola Brookes commented:

“We are delighted to have advised Ingevity on this major strategic acquisition in the UK. This is a significant opportunity for them to acquire a unique business with technology and state-of-the-art manufacturing capabilities which aligns well with Ingevity’s own strategic objectives for growth and expansion. We have thoroughly enjoyed working with the team and our international support network did a fantastic job demonstrating our capabilities on cross-border transactions of this nature.”