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Investing.com -- Technip Energies has entered into a definitive agreement to acquire the Advanced Materials & Catalysts business from Ecovyst Inc. for $556 million, the company announced Thursday.
The acquisition target is a global leader in specialty catalysts and advanced materials with three manufacturing facilities located in the United States and Europe. The business employs approximately 330 people.
On a pro-forma basis for 2024, the transaction represents an enterprise value to EBITDA multiple of 9.8x. The Advanced Materials & Catalysts business generates revenues of $223 million and EBITDA of $57 million, reflecting an EBITDA margin of approximately 25%.
Under the terms of the agreement, Technip Energies will acquire the entire Advanced Materials & Catalysts business, which includes Advanced Silicas and Zeolyst International. Advanced Silicas manufactures and supplies specialty silica-based advanced materials and catalysts for plastics, chemicals, and industrial applications.
Zeolyst International is a 50:50 joint venture with Shell Catalysts & Technologies. It is a leading supplier of custom zeolite-based advanced materials and catalysts used in hydrocracking, sustainable fuels, and custom catalyst applications, including plastics recycling.
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