Ecovyst Sells Advanced Materials & Catalysts Segment to Technip Energies for $530 Million
Ecovyst Inc. has sold its Advanced Materials & Catalysts segment to Technip Energies for approximately $530 million, which will help reduce Ecovyst's Net Debt Leverage Ratio below 1.5x. The acquisition, which includes about 330 employees and focuses on specialty silica-based materials and catalysts, aligns with Technip Energies' strategy to enhance its capabilities in sustainable energy solutions and increase recurring revenues in technology and innovation.
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Ecovyst Inc. has completed the sale of its Advanced Materials & Catalysts segment to Technip Energies for net proceeds of approximately $530 million. This transaction is expected to reduce Ecovyst's Net Debt Leverage Ratio below 1.5x, with $465 million used to pay down its Term Loan.
Technip Energies aims to enhance its capabilities in advanced catalysts and sustainable energy solutions through this acquisition, which includes the integration of approximately 330 employees and existing leadership. The AM&C portfolio includes Advanced Silicas and Zeolyst International, focusing on specialty silica-based materials and catalysts for hydrocracking and recycling. This acquisition aligns with Technip Energies' growth strategy in Technology, Products & Services, targeting increased recurring revenues and innovation in sustainable fuels and carbon capture.
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