
PARIS: Technip Energies (PARIS:TE) said on Thursday it has entered into a definitive agreement to acquire the Advanced Materials & Catalysts business from Ecovyst Inc. (NYSE:ECVT) for $556 million, expanding its catalyst technology portfolio and boosting recurring revenues.
The deal, valued at an EBITDA multiple of approximately 9.8, includes Advanced Silicas and Zeolyst International—a joint venture with Shell Catalysts & Technologies. The acquisition is expected to be immediately accretive to earnings and cash flow, and will increase the contribution of Technip Energies’ Technology, Products & Services (TPS) segment EBITDA from 39% to 45% on a pro-forma basis for 2024.
Advanced Materials & Catalysts generated $223 million in revenue with an EBITDA margin of 25% in 2024. The business operates three manufacturing facilities in the U.S. and Europe and employs 330 people.
Technip Energies said the acquisition strengthens its position in traditional markets such as polyethylene and hydrocracking, while unlocking growth in sustainable fuels, biocatalysis, and advanced recycling. The transaction is expected to close in Q1 2026, subject to regulatory approvals.
CEO Arnaud Pieton called the acquisition “an important step in strengthening our technology platform,” adding that it enhances Technip Energies’ ability to deliver integrated, process-critical solutions.
Ecovyst CEO Kurt Bitting said Technip Energies was the “ideal long-term partner” to scale the business, while Advanced Materials & Catalysts President Paul Whittleston said the deal would “accelerate innovation and deliver greater value for clients.”