Albemarle To Sell Majority Stake In Ketjen’s Refining Catalyst Business To KPS Capital Partners

• Albemarle also announced the sale of its entire 50% interest in the Eurecat joint venture to Axens SA.
• The company said that Albemarle and KPS, through affiliates, will own about 49% and 51% of Ketjen at close, respectively.
• Albemarle said that across the two transactions, it expects to receive total pre-tax proceeds of approximately $660 million.

Albemarle Corp. (ALB) said on Monday it would sell a controlling stake in Ketjen Corporation's refining catalyst solutions business to KPS Capital Partners.

The company said that Albemarle and KPS, through affiliates, will own about 49% and 51% of Ketjen at close, respectively. KPS will hold a majority of the board seats and operational control of Ketjen.

Shares of Albemarle were down by more than 2% in premarket trading. The company said it would retain 100% of Ketjen Corporation's Performance Catalyst Solutions business, including its Pasadena, Texas, plant. 

The company also announced the sale of its entire 50% interest in the Eurecat joint venture to Axens SA. Albermarle noted that both transactions are expected to be completed in the first half of 2026.

Proceeds From The Transactions

The firm said that across the two transactions, it expects to receive total pre-tax proceeds of approximately $660 million, while also retaining about a 49% stake in Ketjen. The company expects to use these proceeds for debt reduction and other general corporate purposes.

Retail sentiment on Albemarle remained unchanged in the ‘bearish’ territory, with message volumes at ‘normal’ levels, according to data from Stocktwits.

Executive View On Stake Sale

CEO of Albemarle Kent Masters said that these transactions align with Albemarle's strategic priorities to focus on its core businesses and competencies, improve financial flexibility, and streamline operations.

“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,” said Masters.

Shares of Albemarle have gained nearly 23% this year and about 8% over the last 12 months. 

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