North Charleston-based chemical maker Ingevity Corp. is making its first major acquisition since becoming an independent company, striking a deal to buy a business from Georgia-Pacific for $315 million in cash.
The sale announced Tuesday is expected to close by the end of the year.
Ingevity is buying Georgia-Pacific’s pine chemicals business, which makes specialty ingredients used in adhesives, cleaners, paints, inks and other products. They also have applications in the metalworking, mining, oilfield, packaging and rubber processing industries. About 90 percent of the sales are to customers in North America.