Wedoany.com Report-Oct. 31, Albemarle Corp. (Charlotte, N.C.) announced it has signed a definitive agreement to sell a controlling stake in Ketjen Corp.’s refining catalyst solutions business to KPS Capital Partners, LP (KPS). Under the terms of the agreement, Albemarle and KPS, through their affiliates, will own approximately 49% and 51% of Ketjen, respectively. KPS will hold a majority of the Board of Directors and assume operational control of the company.

Albemarle will retain full ownership of Ketjen Corporation’s Performance Catalyst Solutions (PCS) business, including the PCS facility in Pasadena, Texas. In a separate transaction, Albemarle will sell its entire 50% interest in the Eurecat joint venture to Axens S.A. Both deals are expected to close in the first half of 2026, subject to customary regulatory approvals and closing conditions. Across the two transactions, Albemarle expects to receive total pre-tax proceeds of about $660 million, while maintaining its 49% equity interest in Ketjen. The company plans to use the proceeds to reduce debt and support other general corporate purposes.

Recently, Ketjen’s aluminum alkyls business was acquired by Mitsui Chemicals, further reshaping Albemarle’s portfolio. The divestitures mark part of Albemarle’s broader strategy to optimize its business structure and focus on core operations.

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, stated: “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 serving as the exclusive financial advisor to Albemarle, while K&L Gates LLP is acting as its legal advisor for the transactions.

The agreement marks a significant step in Albemarle’s ongoing efforts to strengthen its balance sheet, enhance operational efficiency, and build long-term value through strategic partnerships and targeted investments in its key business segments.