Ingevity announces sale of Ozark Materials road markings business to PPG, strengthening strategic focus
Divestiture demonstrates continued execution of Ingevity's strategy to concentrate on businesses aligned with its core capabilities.
Ingevity Corporation (NYSE:NGVT) today announced that it has signed a definitive agreement and has successfully closed on the sale of its Ozark Materials road markings business to PPG (NYSE:PPG). The all-cash transaction results in proceeds to Ingevity of approximately $65 million, subject to customary adjustments.
"The sale of Ozark Materials represents another step forward in sharpening our portfolio and focusing Ingevity on the businesses where we are best positioned to grow and create long term value," said Dave Li, Ingevity president and CEO. "PPG brings strong expertise in pavement marking solutions, and we are confident Ozark will thrive under their ownership. We thank our Ozark colleagues for their contributions to Ingevity and wish them well in the future."
This divestiture is limited solely to Ingevity's Ozark Materials road markings business and does not impact the company's Pavement Technologies business. Ingevity remains fully committed to serving its paving customers with its well‑established, differentiated portfolio of pavement preservation and road construction technologies.
Full-Year 2026 Guidance
In conjunction with its first quarter 2026 financial results, Ingevity will update its full-year 2026 guidance to reflect the impact of today's announced transaction. Ignoring said impact, the company affirms its previously provided full-year guidance.
Ingevity: Purify, Protect and Enhance
Ingevity (NYSE:NGVT) is a global specialty materials company that develops advanced carbon and engineered material solutions that improve mobility, strengthen and extend the life of infrastructure and enhance industrial processes. With a 90-year legacy of innovation, we work closely with customers to solve technical challenges and deliver materials that improve performance and environmental outcomes in essential applications. Our portfolio includes Performance Materials activated carbon technologies for emissions control and filtration, Performance Chemicals solutions that support efficient agriculture and high-performance pavement systems and Advanced Polymer Technologies specialty polymers for coatings and industrial applications. Headquartered in North Charleston, South Carolina, Ingevity operates from 17 locations worldwide and employs approximately 1,400 people. Learn more at ingevity.com.
PPG: WE PROTECT AND BEAUTIFY THE WORLD®
At PPG (NYSE:PPG), we work every day to develop and deliver the paints, coatings and specialty products that our customers have trusted for more than 140 years. Through dedication and creativity, we solve our customers' biggest challenges, collaborating closely to find the right path forward. With headquarters in Pittsburgh, we market and sell in more than 50 countries and reported net sales of $15.9 billion in 2025. We serve customers in construction, consumer products, industrial and transportation markets and aftermarkets. To learn more, visit www.ppg.com.
Forward-looking statements:
This press release contains "forward-looking statements" within the meaning of the Securities Exchange Act of 1934, as amended, and the Private Securities Litigation Reform Act of 1995. Such statements generally include the words "will," "plans," "intends," "targets," "expects," "outlook," "believes," "anticipates" or similar expressions. Forward-looking statements may include, without limitation, the potential benefits of any transaction, including the sale of our road markings business, expected financial positions, guidance, results of operations and cash flows; financing plans; business strategies and expectations. Actual results could differ materially from the views expressed. Factors that could cause actual results to materially differ from those contained in the forward-looking statements, or that could cause other forward-looking statements to prove incorrect, include, without limitation, such factors detailed from time to time in Part I, Item 1A. Risk Factors in our most recent Annual Report on Form 10-K as well as in our other filings with the SEC. These forward-looking statements speak only to management's beliefs as of the date of this press release. Ingevity assumes no obligation to provide any revisions to, or update, any projections and forward-looking statements contained in this press release.
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Caroline Monahan
843-740-2068
media@ingevity.com
Investors:
Mickey Walsh
843-740-2002
investors@ingevity.com