NGVT · Ingevity Corporation

Ingevity Corporation has executed a strategic divestiture by selling its Ozark Materials road markings business to PPG Industries, Inc. for approximately $65 million in cash, subject to customary post-closing adjustments. This all-cash transaction, which signed and closed on April 15, 2026, represents continued portfolio optimization under CEO Dave Li's leadership. The sale allows Ingevity to concentrate resources on high-growth areas aligned with its core competencies in advanced carbon materials, performance chemicals, and polymer technologies, as highlighted in the company's mission to purify, protect, and enhance industrial applications. Importantly, the divestiture is narrowly scoped to road markings and excludes the Pavement Technologies segment, preserving Ingevity's differentiated offerings in pavement preservation and road construction. Management views this as a step to create long-term shareholder value, with PPG's specialized expertise positioned to support the Ozark team's future success. In conjunction with Q1 2026 results, Ingevity plans to update its full-year 2026 guidance to incorporate the transaction's financial effects while affirming prior outlook on a pro forma basis. This move enhances balance sheet flexibility with incoming proceeds, potentially supporting investments in priority segments or other capital allocation priorities.