KPS Capital Partners Acquires Majority Stake in Ketjen from Albemarle

KPS Capital Partners, LP has made waves in the industry with its announcement on October 28, 2025, of a definitive agreement to acquire a majority stake in Ketjen Corporation's refinery catalyst division from Albemarle Corporation. This significant transaction is set to position KPS as a key player in the global catalyst market, enhancing its portfolio with advanced catalyst solutions essential for the petrochemical and refining industries.

Strategic Details of the Transaction

Under the agreement, KPS will manage the newly formed subsidiary where it will own approximately 51% of Ketjen while Albemarle retains 49%. Notably, KPS will hold the majority of the Board of Directors and operational control over Ketjen. This partnership is not just a financial transaction; it represents a synergy of strengths between two reputable industry leaders. Albemarle will continue to retain 100% of its Performance Catalyst Solutions (PCS) segment, ensuring that both companies can focus on their core areas of expertise.

This acquisition is expected to close in the first quarter of 2026, pending the typical closing conditions and approvals. Ketjen, located in Houston, Texas, is recognized globally for its cutting-edge catalyst solutions used in converting, processing, and detoxifying crude oil and renewable feedstocks into fuels and chemicals for a variety of applications ranging from petrochemicals to agriculture.

Company Overview

Ketjen has established itself as a world leader in manufacturing advanced catalyst solutions, improving the reliability, quality, and yield of fuels and chemicals extracted from diverse feedstocks. With around 840 employees and two production facilities, Ketjen operates two research and technology centers, as well as two joint ventures in North America, Europe, and Asia. This vast network illustrates the company's commitment to providing innovative solutions and exceptional service to its global clientele.

Raquel Vargas Palmer, Managing Partner at KPS, expressed enthusiasm over the acquisition, stating, "We are very excited to acquire a majority stake in Ketjen, a leading provider of mission-critical catalysts and additives for petrochemical and fuel manufacturers. The company's solutions are essential for producing a broad range of products, including sustainable fuels and chemicals, ensuring safety, quality, and emissions standards while enhancing yields and profitability for manufacturers."

Future Growth and Innovation

KPS intends to leverage its extensive experience in global manufacturing to cultivate a culture of innovation and continuous improvement within Ketjen. There’s a strategic vision to provide capital and strategic support that aligns with the growth opportunities ahead for Ketjen. The joint effort between KPS and Ketjen's existing management team aims to propel Ketjen into its next growth phase, focusing on enhancing customer partnerships and service quality.

Michael Simmons, President of Ketjen, emphasized the excitement within the team about collaborating with KPS, recognizing its robust track record of investing in and reinforcing operations within industrial and specialty materials sectors. This partnership is viewed as a pivotal moment for Ketjen to expand its strong market position and deepen customer collaborations on a global level.

Kent Masters, Chairman and CEO of Albemarle, also shared positive insights regarding the partnership, noting the valuable leadership KPS brings to the transaction. He sees immense potential for growth in the sector under KPS's guidance, highlighting the longstanding industry expertise of KPS.

Financing and Advisory Details

The transaction’s financial framework is supported by leading financial institutions, including Barclays, Jefferies, BNP Paribas, and Santander, ensuring strong backing as it moves forward. Additionally, Paul, Weiss, Rifkind, Wharton & Garrison LLP acted as legal counsel for KPS, bringing their expertise to the table during the negotiation phase.

In summary, the acquisition of Ketjen by KPS Capital Partners sets the stage for significant advancements in the catalyst manufacturing sector, with promising prospects for innovation and collaborative growth in the making. This partnership signifies a strategic step not only for KPS and Ketjen but also for the petrochemical industry at large, paving the way for enhanced sustainability and quality in refining processes across the globe.

For more details about Ketjen, visit www.ketjen.com, and for KPS Capital Partners, further insights can be found at www.kpsfund.com.