Technip Energies (PARIS:TE) announces completion of its acquisition of the Advanced Materials & Catalysts (AM&C) business from Ecovyst Inc. (NYSE: ECVT), a global leader in specialty catalysts and advanced materials.
This strategic transaction expands Technip Energies' portfolio by broadening its capabilities in advanced catalysts. It supports its disciplined growth strategy for the Technology, Products & Services (TPS) business segment in established markets by increasing recurring revenues while accelerating opportunities in sustainable fuels, circular chemistry, and carbon capture - key drivers of long-term value creation and critical areas for the energy transition.
Following completion, the AM&C business will continue to operate under its existing leadership team, supported by dedicated R&D, manufacturing and commercial teams across its three facilities in the US and Europe. 330 employees will join Technip Energies. The portfolio includes Advanced Silicas, a leading 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.
With over 40 years of proven expertise, AM&C is expected to deliver immediate earnings and cash flow accretion, reinforcing Technip Energies' financial profile and unlocking new value-creation opportunities.
Arnaud Pieton, CEO of Technip Energies, commented: "Closing this transaction is an important milestone in the evolution of Technip Energies. 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. Advanced Materials & Catalysts' strong recurring revenue base, attractive margins and long-standing customer relationships are fully aligned with our disciplined capital allocation strategy to drive long-term value creation and to grow the TPS segment. We are very happy to welcome Advanced Materials & Catalysts teams and look forward to working together to deliver the next phase of growth for our customers and stakeholders."
Kurt Bitting, CEO of Ecovyst, commented: "As a leading provider of technologies that are highly-valued by the energy industry, we believe Technip Energies provides the scale and technology development expertise that will further enhance product development and market reach for the Advanced Materials & Catalysts business. We want to thank our Advanced Materials & Catalysts colleagues for their dedication and contributions over their tenure with Ecovyst, and we wish them continued success in the future as part of the Technip Energies organization."
Paul Whittleston, President of Advanced Materials & Catalysts, said: "With the completion of this transaction, we reach an important milestone for Advanced Materials & Catalysts. As part of Technip Energies, we can now scale, accelerate innovation and deliver even greater value for our customers, while contributing together to a more sustainable future. We are excited to enter this next phase as part of Technip Energies and to build the next chapter of growth together."
Evercore acted as financial advisor, Gibson Dunn served as legal counsel and EY-Parthenon as accounting and tax advisor to Technip Energies in connection with this transaction.
About Technip Energies
Technip Energies is a global technology and engineering powerhouse. With leadership positions in LNG, hydrogen, ethylene, sustainable chemistry, and CO2 management, we are contributing to the development of critical markets such as energy, energy derivatives, decarbonization, and circularity. Our complementary business segments, Technology, Products and Services (TPS) and Project Delivery, turn innovation into scalable and industrial reality.
Through collaboration and excellence in execution, our 17,000+ employees across 34 countries are fully committed to bridging prosperity with sustainability for a world designed to last.
Technip Energies generated revenues of €6.9 billion in 2024 and is listed on Euronext Paris. The Company also has American Depositary Receipts trading over the counter.
For further information: www.ten.com
About Ecovyst Advanced Materials & Catalysts
Ecovyst Inc. and subsidiaries is a leading integrated and innovative global provider of virgin sulfuric acid and sulfuric acid regeneration services. We support customers globally through our strategically located network of manufacturing facilities. We believe that our products and services contribute to improving the sustainability of the environment.
Ecovyst continues to operate Ecoservices, which provides sulfuric acid recycling to the North American refining industry for the production of alkylate, and provides high quality and high strength virgin sulfuric acid for industrial and mining applications. Ecoservices also provides chemical waste handling and treatment services, as well as ex-situ catalyst activation services for the refining and petrochemical industry.
Advanced Materials & Catalysts ("AM&C") was formerly part of Ecovyst's portfolio and has been purchased by Technip Energies following completion of this transaction. AM&C, through its Advanced Silicas business, provides finished silica catalysts, catalyst supports and functionalized silicas necessary to produce high-performing plastics and to enable sustainable chemistry, and through its Zeolyst Joint Venture, innovates and supplies specialty zeolites used in catalysts that support the production of sustainable fuelsand that are broadly applied in refining and petrochemical processes.
For more information, see our website at https://www.ecovyst.com.
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