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Ecovyst Inc. (NYSE:ECVT) said Thursday it will sell its Advanced Materials & Catalysts division to Technip Energies (OTC:THNPY) in a $556 million cash deal, reshaping both companies’ strategic focus.
The sale values the business at roughly 10 times its 2024 adjusted EBITDA. Closing is targeted for early 2026. Ecovyst expects net proceeds of about $530 million after taxes and expenses.
Kurt J. Bitting, the company’s chief executive, said the decision followed a strategic review that showed the market undervalued the unit. Proceeds will be used to cut debt and return capital to investors.
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Bitting said the divestiture will reduce the company’s net debt leverage ratio to below 1.5x and provide flexibility to pursue growth opportunities. Ecovyst also plans to continue its $200 million share buyback program, signaling confidence in its core sulfuric acid and regeneration businesses.
For Technip Energies, the acquisition accelerates its expansion into catalysts and advanced materials, critical technologies that enhance efficiency and sustainability across industries.
Arnaud Pieton, chief executive of the Paris-based firm, said the deal broadens its offerings in polyethylene, hydrocracking, and emerging markets such as sustainable aviation fuel and carbon capture. The purchase also includes Zeolyst International, a joint venture with Shell plc (NYSE:SHEL).
The Advanced Materials & Catalysts business generated $223 million in revenue last year with a 25% EBITDA margin, supported by three plants in the United States and Europe and a workforce of about 330.
Technip Energies said the acquisition will add recurring revenue streams, strengthen its R&D capabilities, and enhance its ability to deliver integrated solutions to clients seeking cleaner, more efficient processes.
Price Action: ECVT shares are trading higher by 6.96% to $9.830 premarket at last check Thursday.
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