Albemarle Corporation has completed the sale of a controlling stake in its Ketjen refining catalyst solutions business to affiliates of KPS Capital Partners, marking another step in the specialty chemicals company’s portfolio optimization strategy.
The Charlotte, North Carolina-based company said it has finalized the transaction with KPS Capital Partners, with Albemarle retaining a minority stake in Ketjen. KPS will hold a majority of the Board of Directors and assume operational control of the business. Albemarle will continue to own 100% of Ketjen’s Performance Catalyst Solutions business, which has been integrated into its broader product portfolio.
The Ketjen transaction, combined with Albemarle’s previously completed sale of its 50% interest in the Eurecat joint venture to Axens SA in January 2026, generated a total of $670 million in pre-tax proceeds. The company said it intends to use the funds to reduce debt and for other general corporate purposes, enhancing its financial flexibility.
The move aligns with Albemarle’s broader strategy to streamline operations and sharpen its focus on core growth areas, including lithium and bromine solutions that support mobility, energy, connectivity, and health applications.
Support: Goldman Sachs served as exclusive financial advisor to Albemarle on the Ketjen transaction, while K&L Gates acted as legal advisor.
KEY QUOTES
“Our continued investment in Ketjen alongside KPS demonstrates our confidence in the company’s growth and value-creation potential. We are committed to supporting Ketjen’s next chapter while strengthening Albemarle’s portfolio focus and financial flexibility.”
Kent Masters, Chairman And CEO, Albemarle Corporation
