Albemarle Corporation has agreed to sell a controlling stake in Ketjen Corporation's refining catalyst solutions business to KPS Capital Partners and its 50% stake in the Eurecat joint venture to Axens SA, anticipating total pre-tax cash proceeds of approximately $660 million.

Information on the Target

Ketjen Corporation’s refining catalyst solutions business specializes in providing advanced catalyst solutions to major players in the petrochemical and refining sectors. The company is renowned for its innovative offerings, which include fluidized catalytic cracking and clean fuels solutions, ensuring safe and effective production processes. Headquartered in Houston, Texas, Ketjen operates in 25 global markets, delivering safe, reliable, and efficient solutions that maximize production performance and business value.

Industry Overview in the United States

The refining and petrochemical industries in the United States are pivotal to the global energy landscape, characterized by significant investments in technology and innovation. The sector is witnessing a shift towards sustainability, focusing on producing cleaner fuels and optimizing processes to meet environmental regulations. As a result, companies are increasingly turning to advanced catalyst solutions, which enhance efficiency while reducing emissions.

In recent years, refiners have been adapting to fluctuating crude oil prices and demand for high-quality fuels. This volatility necessitates reliable refining catalysts that can improve yield and operational effi