By: ICN Bureau
Last updated : October 31, 2025 11:22 am
Albemarle separately signs agreement to sell its 50% stake in Eurecat joint venture to Axens SA
Albemarle Corporation, a global leader in providing essential elements for mobility, energy, connectivity and health today announced it has entered into a definitive agreement to sell a controlling stake in Ketjen Corporation's refining catalyst solutions business to KPS Capital Partners.
Albemarle and KPS, through affiliates, will own approximately 49% and 51% of Ketjen at close, respectively, with KPS having a majority of the Board of Directors and operational control of Ketjen.
Albemarle will retain 100% of Ketjen Corporation's Performance Catalyst Solutions (PCS) business, including the PCS plant in Pasadena, Texas. Separately, Albemarle will sell the entirety of its 50% interest in the Eurecat joint venture to Axens SA.
Completion of both transactions is expected in the first half of 2026, with both subject to customary closing conditions and regulatory approvals. Across the two transactions, Albemarle expects to receive total pre-tax proceeds of approximately $660 million, while also retaining an approximately 49% stake in Ketjen. Albemarle expects to use these proceeds for debt reduction and other general corporate purposes.
Kent Masters, Chairman and CEO of Albemarle, said, "We have been impressed with KPS and their proven expertise in managing large, global manufacturing and industrial businesses. Albemarle's retained stake in Ketjen highlights our belief in the business' earnings growth and value creation potential under KPS' direction, and we look forward to partnering with them in driving Ketjen's next phase of growth. These transactions align with Albemarle's strategic priorities to focus on our core businesses and competencies, improve financial flexibility, and streamline operations."
Raquel Vargas Palmer, Managing Partner of KPS, said, "We are thrilled to make a controlling investment in Ketjen and partner with Albemarle in this next phase of growth for Ketjen. We will leverage KPS' decades of global manufacturing experience to create an entrepreneurial culture centered on innovation and continuous improvement, while providing strategic support and capital to accelerate the Company's growth opportunities. We look forward to partnering with Ketjen's talented employees, senior management team and Albemarle to drive the Company's growth and profitability."
Goldman Sachs & Co. LLC. is acting as exclusive financial advisor and K&L Gates LLP is acting as legal advisor in connection with these transactions for Albemarle.