Albemarle Sells Majority Stake in Ketjen to KPS for $670M
Event summary
- Albemarle sold a controlling stake in Ketjen's refining catalyst business to KPS Capital Partners for $670M pre-tax proceeds.
- Albemarle retains a minority stake in Ketjen and full ownership of its Performance Catalyst Solutions business.
- The deal follows Albemarle's January 2026 sale of its 50% interest in Eurecat to Axens SA.
- KPS now holds majority board control and operational oversight of Ketjen.
- Proceeds will be used for debt reduction and general corporate purposes.
The big picture
Albemarle's sale of Ketjen's refining business to KPS Capital Partners, combined with its recent Eurecat divestiture, signals a strategic shift toward streamlining its portfolio. With $670M in pre-tax proceeds, Albemarle aims to strengthen its financial flexibility amid a competitive chemicals landscape. KPS, managing $19.5B in assets, will leverage its industrial expertise to enhance Ketjen's operational performance.
What we're watching
- Strategic Focus
- How Albemarle's divestitures will impact its core lithium and bromine business focus.
- KPS Turnaround
- Whether KPS can improve Ketjen's operational performance and profitability.
- Debt Reduction
- The pace at which Albemarle will deploy the $670M in proceeds for debt reduction.
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