Technip Energies acquires Ecovyst’s advanced materials, catalysts business for $556 million

This strategic transaction strengthens Technip Energies’ portfolio by broadening its capabilities in advanced catalysts and process technologies

Technip Energies has entered into a definitive agreement to acquire the Advanced Materials & Catalysts business from Ecovyst, a global leader in specialty catalysts and advanced materials, for a purchase price of US$556 million, representing an EBITDA1 multiple of ~9.8.

This strategic transaction strengthens Technip Energies’ portfolio by broadening its capabilities in advanced catalysts and process technologies. Catalysts are materials that accelerate chemical reactions and improve process efficiency, and are at the core of many process technologies, with applications in traditional markets, such as polyethylene or hydrocracking, and growth areas, such as sustainable fuels production. 

The acquisition supports Technip Energies’ strategy for disciplined growth of its Technology, Products & Services (TPS) business segment and drives long-term value creation. By integrating Advanced Materials & Catalysts, Technip Energies will benefit from increased recurring revenues tied to customer operating expenditures and improved long-term revenue visibility. On a pro-forma basis for 2024, Advanced Materials & Catalysts increases TPS' contribution to Segment EBITDA from 39% to approximately 45%.

Arnaud Pieton, CEO of Technip Energies, commented: “The acquisition of Advanced Materials & Catalysts is accretive for Technip Energies and is in line with our disciplined capital allocation strategy to drive long-term value creation. It brings differentiated capabilities in catalyst technologies and advanced materials, enhancing our ability to deliver high-performance, process-critical solutions to our clients. This acquisition is an important step in strengthening our technology platform, bringing a new dimension to our catalyst business and unlocking avenues for product development and market expansion. We are delighted to welcome the Advanced Materials & Catalysts team as we continue building a more integrated and technology-driven portfolio.”

Kurt Bitting, CEO of Ecovyst, commented: “We are proud of what Advanced Materials & Catalysts has achieved as part of Ecovyst. Technip Energies is the ideal long-term partner to further unlock Advanced Materials & Catalysts innovation potential and ensure continuity for both customers and employees. We are confident that Advanced Materials & Catalysts will continue to thrive as part of Technip Energies.”

Paul Whittleston, President of Advanced Materials & Catalysts, commented: “This is an exciting milestone for Advanced Materials & Catalysts. Over the years, we have built a business defined by technical rigor, trusted customer relationships, and impact across critical industrial applications. Joining Technip Energies opens up powerful new opportunities to scale our technologies, accelerate innovation, and deliver greater value for our clients. We are thrilled to join a global leader that shares our vision and commitment to a more sustainable future.”

Evercore acted as financial advisor, Gibson Dunn served as legal counsel and EY-Parthenon as Financial and Tax advisor to Technip Energies in connection with this transaction.