Where are the sold assets located?

The sold CTO refinery assets are co-located on the campus of Ingevity’s North Charleston, South Carolina, Performance Chemicals manufacturing facility.

Will Ingevity continue to operate at the North Charleston site?

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

January 7, 2026

Ingevity Divests Crude Tall Oil Refinery Assets in Charleston

North Charleston, SC, January 7, 2026

Ingevity, a specialty materials company based in North Charleston, has successfully divested its Crude Tall Oil (CTO) refinery assets to Mainstream Pine Products for $110 million. This strategic move aims to streamline operations, reduce portfolio volatility, and focus on higher-margin specialty applications, underpinning the commitment to growth within the Charleston business landscape. Ingevity will continue to operate in Charleston while also establishing partnerships with Mainstream Pine Products for ongoing operations.

North Charleston’s Ingevity Streamlines Operations with Key Divestiture

Ingevity, a North Charleston-headquartered specialty materials company, has completed a significant strategic move, divesting its Crude Tall Oil (CTO) refinery assets and a substantial portion of its Performance Chemicals Industrial Specialties product line. This transaction highlights a commitment to focused growth and strategic resource allocation within the Lowcountry business landscape.

The successful sale to Mainstream Pine Products, LLC, for an all-cash consideration of $110 million at closing, with potential for additional performance-based payments, marks a pivotal moment for Ingevity and the future direction of its operations. This strategic realignment by a prominent local employer demonstrates the dynamic nature of Charleston SC business and the continuous pursuit of efficiency and innovation by area enterprises.

For entrepreneurs and established businesses alike in the Charleston County economy, such corporate decisions underscore the importance of adapting to market demands and optimizing portfolios. It reflects a proactive approach to business management, aiming to enhance profitability and stability through targeted investments and a clear strategic vision.

Strategic Realignment for Future Growth

North Charleston, S.C. – Ingevity Corporation completed the sale of its North Charleston Crude Tall Oil (CTO) refinery assets and the majority of its Performance Chemicals Industrial Specialties product line to Mainstream Pine Products, LLC. The all-cash transaction, finalized on January 5, 2026, was valued at $110 million at closing, with a potential for additional contingent consideration ranging from $0 to $19 million based on future business performance milestones. This move is part of Ingevity’s strategic plan to simplify and streamline its business, aiming to position itself as a best-in-class specialty materials company.

Refining Focus and Strengthening Financials

The divestiture is designed to reduce portfolio volatility and strengthen Ingevity’s margin and cash flow profile. By exiting its remaining CTO-based product lines, Ingevity intends to sharpen its focus on higher-margin specialty applications within activated carbon (Performance Materials) and pavement technologies. The company will retain its Pavement Technologies business and other lignin-based dispersant products. The proceeds from the sale are slated to accelerate debt reduction and enhance capital allocation flexibility. This strategic emphasis on core strengths and financial prudence is a hallmark of successful South Carolina entrepreneurs and larger corporations seeking sustainable growth.

Local Assets and Operational Continuity

The sold CTO refinery assets are co-located on the campus of Ingevity’s Performance Chemicals manufacturing facility in North Charleston, South Carolina. Ingevity, which is headquartered in North Charleston, South Carolina, will maintain a presence at the site. To ensure a smooth transition and continued operations, Ingevity and Mainstream Pine Products have established several ongoing partnerships. Notably, Mainstream Pine Products will supply certain refinery products to support Ingevity’s Road Technologies business. Furthermore, Ingevity will provide certain critical operating services to Mainstream Pine Products at the North Charleston CTO refinery following the closing of the transaction. This cooperative approach underscores the resilience and interconnectedness often observed in the Lowcountry economic growth sector.

Mainstream Pine Products: A New Chapter for Local Assets

The acquisition by Mainstream Pine Products, LLC, represents a new chapter for these industrial assets in North Charleston. The company had previously considered developing a CTO fractionation site in Berkeley County, South Carolina, which ultimately did not materialize. The Ingevity North Charleston site, now acquired by Mainstream Pine Products, possesses an estimated 110,000-120,000 tons per year (t/yr) CTO fractionation capacity. This acquisition positions Mainstream Pine Products to leverage existing infrastructure and expertise, contributing to the diversity of the Charleston small business and industrial landscape.

Economic Implications for Charleston

The divestiture, while a corporate restructuring for Ingevity, reinforces broader economic principles beneficial to the region. It illustrates how companies, through strategic self-regulation and market-driven decisions, can optimize their operations, leading to stronger, more resilient businesses. The transaction reflects a healthy private investment environment, where assets are efficiently reallocated to entities best positioned to maximize their value and operational focus. Such moves contribute to a dynamic economic ecosystem, fostering innovation and creating opportunities within the Charleston area and beyond. The shift towards higher-margin, specialized production can lead to increased technological investment and a more skilled workforce over time.

Looking Ahead: A Stronger Foundation for Charleston’s Economy

This strategic divestiture by Ingevity is more than a financial transaction; it’s a testament to the ongoing evolution of businesses in North Charleston and the broader region. By focusing on core competencies and optimizing its portfolio, Ingevity aims for greater efficiency and long-term value creation. Such strategic moves by major employers contribute significantly to the health and vitality of the Charleston County economy, fostering a robust environment for innovation and economic development. Readers are encouraged to continue supporting local businesses and remain engaged in the economic future of our vibrant Charleston community.

Frequently Asked Questions

What did Ingevity divest?: Ingevity Corporation completed the sale of its North Charleston Crude Tall Oil (CTO) refinery assets and the majority of its Performance Chemicals Industrial Specialties product line.
Who acquired Ingevity’s CTO refinery assets?: Mainstream Pine Products, LLC, acquired 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 was valued at $110 million at closing, with potential for additional contingent consideration ranging from $0 to $19 million based on future business performance milestones.
What is Ingevity’s strategic rationale for this divestiture?: This divestiture is a key step in Ingevity’s strategic plan to simplify and streamline its business, aiming to position itself as a best-in-class specialty materials company. The company aims to reduce portfolio volatility and strengthen its margin and cash flow profile.
Where are the sold assets located?: The sold CTO refinery assets are co-located on the campus of Ingevity’s North Charleston, South Carolina, Performance Chemicals manufacturing facility.
Will Ingevity continue to operate at the North Charleston site?: Yes, Ingevity will retain its Pavement Technologies business and other lignin-based dispersant products. Additionally, Ingevity will provide certain critical operating services to Mainstream Pine Products at the North Charleston CTO refinery post-closing.

Key Features of Ingevity’s Divestiture

Feature	Details
Seller	Ingevity Corporation
Buyer	Mainstream Pine Products, LLC
Assets Divested	North Charleston Crude Tall Oil (CTO) refinery assets and the majority of Performance Chemicals Industrial Specialties product line.
Transaction Value	$110 million cash at closing, plus potential contingent consideration of $0-$19 million.
Completion Date	January 5, 2026.
Location of Assets	Co-located on the campus of Ingevity’s North Charleston, South Carolina, Performance Chemicals manufacturing facility.
Ingevity’s Strategic Focus Post-Divestiture	Focus on higher-margin specialty applications in activated carbon (Performance Materials) and pavement technologies. Retention of Pavement Technologies business and other lignin-based dispersant products.
Ongoing Agreements	Mainstream Pine Products to supply refinery products to Ingevity’s Road Technologies business. Ingevity to provide critical operating services to Mainstream Pine Products at the North Charleston CTO refinery.