Technip finalizes catalyst firm acquisition

Technip Energies has completed its acquisition of the Advanced Materials & Catalysts (AM&C) business from Ecovyst Inc., expanding its capabilities in advanced catalysts and materials while supporting disciplined growth within its Technology, Products & Services (TPS) segment.

The transaction broadens Technip Energies’ portfolio in established markets and is expected to increase recurring revenues while accelerating opportunities in sustainable fuels, circular chemistry and carbon capture—areas viewed as critical drivers of long-term value creation in the energy transition.

Following completion, the AM&C business will continue to operate under its existing leadership team, supported by dedicated research and development, manufacturing and commercial organizations across three facilities in the United States and Europe. Approximately 330 employees have joined Technip Energies as part of the transaction.

The acquired portfolio includes Advanced Silicas, a supplier of specialty silica-based materials and catalysts, as well as Zeolyst International, a joint venture with Shell Catalysts & Technologies focused on custom zeolite-based materials and catalysts for hydrocracking, sustainable fuels and advanced recycling applications. With more than 40 years of operating experience, the AM&C business is expected to deliver immediate earnings and cash flow accretion.

Arnaud Pieton, CEO of Technip Energies, said the transaction represents an important milestone in the company’s evolution.

“With Advanced Materials & Catalysts, we are combining a differentiated catalysts and advanced materials platform with our process technologies and engineering expertise, creating an integrated offering that helps our customers to improve efficiency, reliability and emissions performance across their assets,” Pieton said. He added that the business’s recurring revenue base and customer relationships align closely with Technip Energies’ capital allocation strategy and growth plans for the TPS segment.

From Ecovyst’s perspective, the sale allows the company to sharpen its strategic focus and strengthen its balance sheet. Kurt J. Bitting, CEO of Ecovyst, said the transaction enables the company to realize the intrinsic value of the AM&C business while improving financial flexibility.

“Net proceeds from the sale will provide for significantly reduced leverage and enhanced financial flexibility that we believe will support the implementation of our growth strategies as well as the active return of capital to stockholders,” Bitting said.

Ecovyst expects net proceeds after taxes and transaction expenses of approximately $530 million, resulting in a net debt leverage ratio below 1.5x. As part of the closing, the company used $465 million of the proceeds to pay down its term loan.

Ecovyst remains focused on its core businesses as an integrated provider of virgin sulfuric acid, sulfuric acid regeneration services and ex-situ catalyst activation services, supporting refining, petrochemical, industrial and mining customers across North America.