What did Ingevity sell?

Ingevity Corporation sold its North Charleston Crude Tall Oil (CTO) refinery assets and the majority of its Performance Chemicals Industrial Specialties product line.

Who purchased Ingevity's assets?

Mainstream Pine Products, LLC purchased Ingevity's North Charleston Crude Tall Oil (CTO) refinery assets and the majority of its Performance Chemicals Industrial Specialties product line.

What was the value of the transaction?

The all-cash transaction included $110 million at closing, plus potential contingent consideration ranging from $0 to $19 million, subject to the achievement of future business performance milestones.

When was the sale completed?

The sale was completed on January 5, 2026.

What is Ingevity's strategic focus after the sale?

After the sale, Ingevity is sharpening its focus on higher-margin specialty applications in activated carbon and pavement technologies.

Will Ingevity continue to have operations in North Charleston?

Yes, Ingevity will retain its Pavement Technologies business and other lignin-based dispersant products. Additionally, Ingevity will utilize its non-refinery assets in North Charleston for toll-manufacturing for Mainstream Pine Products and will provide certain critical operating services to Mainstream at the North Charleston CTO refinery post-closing.

January 7, 2026

Ingevity Completes Strategic Sale in North Charleston

North Charleston, January 7, 2026

Ingevity Corporation has successfully completed the sale of its North Charleston Crude Tall Oil refinery and much of its Industrial Specialties product line to Mainstream Pine Products, LLC. This strategic move is aimed at enhancing Ingevity’s focus on higher-margin specialty materials, thus paving the way for innovation and growth in the Charleston County economy. The sale, worth $110 million initially, demonstrates the dynamic nature of business in Charleston, potentially fostering economic resilience and creating new opportunities in the region.

Charleston, SC

Ingevity’s Strategic Shift: A New Chapter for North Charleston Business

A significant transaction in the Lowcountry’s industrial landscape has been successfully completed, as Ingevity Corporation finalized the sale of its North Charleston Crude Tall Oil (CTO) refinery and a substantial portion of its Industrial Specialties product line. This strategic divestiture to Mainstream Pine Products, LLC marks a pivotal moment for the globally recognized specialty materials company, allowing it to sharpen its focus on higher-margin applications and signaling a new phase of growth and innovation for both entities within the Charleston County economy.

This move highlights the dynamic nature of Charleston SC business, where companies continuously adapt and innovate to enhance their market position and contribute to economic vitality. Such strategic realignments, driven by a commitment to operational excellence and shareholder value, often create new opportunities for specialized businesses and can foster greater economic resilience in the region. The sale, a testament to the ongoing evolution of industrial operations, underscores the importance of private investment in shaping the future of Lowcountry economic growth.

A Focused Future for Ingevity

Ingevity’s decision to divest its CTO refinery assets and the majority of its Performance Chemicals Industrial Specialties product line to Mainstream Pine Products, LLC was completed on January 5, 2026. This all-cash transaction initially included $110 million at closing, with potential for an additional $0 to $19 million in contingent consideration, subject to the achievement of future business performance milestones. The sale is part of Ingevity’s broader strategic plan to streamline its business and concentrate on becoming a premier specialty materials company.

By exiting its remaining CTO-based product lines, Ingevity aims to enhance its focus on higher-margin specialty applications, specifically in activated carbon and pavement technologies. The company will retain its Pavement Technologies business and other lignin-based dispersant products. This strategic recalibration is anticipated to reduce portfolio volatility, strengthen Ingevity’s margin and cash flow profile, and provide greater strategic flexibility for future growth.

Mainstream Pine Products: A New Steward in North Charleston

Mainstream Pine Products, LLC has stepped in as the acquirer of these significant assets in North Charleston. The CTO refinery assets involved in the transaction are co-located on the campus of Ingevity’s Performance Chemicals manufacturing facility in North Charleston, South Carolina. This acquisition by Mainstream Pine Products signifies a new investment in the local industrial sector, representing confidence in the capabilities and potential of operations within Charleston County economy.

As part of the agreement, Ingevity and Mainstream Pine Products will enter into a series of ongoing agreements. These include a supply agreement where Mainstream will provide certain refinery products to support Ingevity’s Road Technologies product line. Additionally, Ingevity will utilize its non-refinery assets in North Charleston to derivatize certain Industrial Specialties products for Mainstream through a toll-manufacturing agreement. Ingevity will also provide critical operating services to Mainstream at the North Charleston CTO refinery post-closing through a reciprocal plant operating agreement.

Economic Implications and Community Impact

The successful completion of this sale underscores the adaptability and entrepreneurial spirit present in the Charleston small business and industrial sectors. Such transactions, even when involving larger corporations, can open doors for new investments, specialized job opportunities, and innovative approaches to industrial production. While the immediate impact on local employment from this specific transaction was not detailed, the ongoing operational agreements between Ingevity and Mainstream Pine Products suggest a continued, albeit reconfigured, industrial presence in the area.

Strategic divestitures like this can allow companies to optimize their operations, focusing on core competencies that drive innovation and create sustainable economic value. This re-focusing can attract new capital and foster a competitive environment, which is often beneficial for the broader South Carolina entrepreneurs landscape. The sustained operation of these assets under new ownership, coupled with ongoing collaboration, reflects a commitment to industrial activity in North Charleston.

Fostering Economic Development in the Lowcountry

This transaction exemplifies how strategic business decisions contribute to the ongoing evolution of the Lowcountry economic growth. By allowing Ingevity to concentrate on its advanced materials segments, it potentially paves the way for greater innovation and specialized job creation in these high-value areas. For Mainstream Pine Products, the acquisition provides an opportunity to grow its market presence and optimize the acquired assets, further diversifying the region’s industrial base.

The continuity of operations through supply and service agreements demonstrates a collaborative approach to industrial transitions. This kind of private sector initiative, where companies can freely adjust their portfolios to maximize efficiency and pursue new opportunities, is a cornerstone of a robust economy, fostering competition and encouraging continuous improvement across industries. The regulatory environment in South Carolina, which supports such transactions, plays a role in facilitating these strategic business decisions.

Conclusion

The completion of Ingevity’s sale of its North Charleston CTO refinery and a significant portion of its Industrial Specialties product line to Mainstream Pine Products marks a notable development for the Charleston SC business community. This strategic move allows Ingevity to streamline its focus on high-margin specialty materials, while Mainstream Pine Products gains valuable assets and operational capabilities. The ongoing agreements between the two companies underscore a collaborative future for these industrial operations in North Charleston. We encourage our readers to continue supporting local businesses and staying informed about the dynamic economic shifts that contribute to the prosperity of the Charleston area.

Frequently Asked Questions

What did Ingevity sell?: Ingevity Corporation sold its North Charleston Crude Tall Oil (CTO) refinery assets and the majority of its Performance Chemicals Industrial Specialties product line.
Who purchased Ingevity’s assets?: Mainstream Pine Products, LLC purchased Ingevity’s North Charleston Crude Tall Oil (CTO) refinery assets and the majority of its Performance Chemicals Industrial Specialties product line.
What was the value of the transaction?: The all-cash transaction included $110 million at closing, plus potential contingent consideration ranging from $0 to $19 million, subject to the achievement of future business performance milestones.
When was the sale completed?: The sale was completed on January 5, 2026.
What is Ingevity’s strategic focus after the sale?: After the sale, Ingevity is sharpening its focus on higher-margin specialty applications in activated carbon and pavement technologies.
Will Ingevity continue to have operations in North Charleston?: Yes, Ingevity will retain its Pavement Technologies business and other lignin-based dispersant products. Additionally, Ingevity will utilize its non-refinery assets in North Charleston for toll-manufacturing for Mainstream Pine Products and will provide certain critical operating services to Mainstream at the North Charleston CTO refinery post-closing.

Key Features of the Ingevity Asset Sale

Feature	Detail
Seller	Ingevity Corporation
Buyer	Mainstream Pine Products, LLC
Assets Sold	North Charleston Crude Tall Oil (CTO) refinery assets and majority of Performance Chemicals Industrial Specialties product line
Transaction Type	All-cash sale
Initial Closing Value	$110 million
Potential Additional Consideration	$0 to $19 million (contingent on business performance)
Completion Date	January 5, 2026
Ingevity’s Post-Sale Focus	Higher-margin specialty applications in activated carbon and pavement technologies
Retained Ingevity Assets in North Charleston	Pavement Technologies business and other lignin-based dispersant products
Post-Sale Agreements	Supply agreement (Mainstream to Ingevity), toll-manufacturing agreement (Ingevity for Mainstream), reciprocal plant operating agreement (Ingevity for Mainstream)