KPS Capital Partners Acquires Majority Stake in Ketjen from Albemarle Corporation

KPS Capital Partners Acquires Majority Stake in Ketjen

KPS Capital Partners, LP has announced a significant investment by acquiring a majority stake in the refinery catalyst solutions business of Ketjen Corporation. This strategic move marks a pivotal change in both KPS's and Ketjen's trajectories in the petrochemical sector. The agreement allows KPS to hold approximately 51% ownership in Ketjen, while Albemarle Corporation will retain a minority stake of about 49% with full control over their Performance Catalyst Solutions (PCS) business.

The transaction is set to complete in the first quarter of 2026, pending regulatory approvals and other customary closing conditions. This acquisition not only stands to elevate KPS's portfolio but also positions Ketjen as a frontrunner in providing crucial catalyst solutions in the refining and petrochemical industries.

Located in Houston, Texas, Ketjen is recognized for its innovative catalysts that enable the transformation of crude oil and other renewable feedstocks into fuels and chemicals. With a workforce of approximately 840 employees, Ketjen operates two manufacturing facilities and has established two R&D centers, underscoring its commitment to advancing the industry's technological landscape. Their solutions significantly enhance the profitability of clients by improving the reliability, quality, and yield of fuels and chemicals derived from various traditional and renewable sources.

Raquel Vargas Palmer, Managing Partner at KPS, expressed her enthusiasm about the deal, stating, "We are thrilled to make a controlling investment in Ketjen, a global leader in critical catalysts and additives for petrochemicals and fuel producers. The company's solutions are vital for producing a wide range of products, including sustainable fuels and chemicals while ensuring safety, quality, and emission standards are met, all while enhancing profitability for producers."

Vargas Palmer highlighted KPS's intention to cultivate an entrepreneurial culture at Ketjen, focused on innovation and continuous improvement. She asserted that KPS's extensive history in global manufacturing will be the backbone of Ketjen's growth endeavors.

Michael Simmons, Chairman of Ketjen, echoed this sentiment during the announcement, emphasizing his team’s excitement to collaborate with KPS as they enter this new chapter. He voiced confidence in KPS’s track record of enhancing industrial and specialty materials companies, ensuring that their focus on manufacturing excellence and operational innovation aligns with Ketjen’s goals.

Kent Masters, Chairman and CEO of Albemarle, acknowledged the potential that KPS brings to the partnership, suggesting that their expertise in managing large, global-scale businesses will further unlock the growth potential of Ketjen. He stated, "Albemarle’s continued interest in Ketjen underscores our belief in the company's prospects for profit growth and value creation under KPS's management."

This acquisition also involves a comprehensive financing structure facilitated by financial partners including Barclays, Jefferies, BNP Paribas, and Santander, assuring the seamless transition and operational enhancements post-acquisition.

Overview of Ketjen

Ketjen specializes in catalyst solutions that optimize production performance for clients in the petrochemical and refining industries. Their offerings range from fluidized catalytic cracking catalysts to clean fuels and hydroprocessing technologies. By serving markets across 25 different sectors globally, Ketjen solidifies its place at the forefront of the industry.

For more information about Ketjen’s extensive capabilities, visit their website at www.ketjen.com.

About Albemarle Corporation

Albemarle (NYSE: ALB) is a global leader dedicated to transforming essential resources into vital ingredients for mobility, energy, connectivity, and health. Collaborating with clients, Albemarle continuously seeks innovative ways to enhance functionality while considering the welfare of both people and the planet. To learn more, visit www.albemarle.com.

About KPS Capital Partners

KPS Capital Partners manages the KPS Special Situations Funds, with approximately $19.4 billion in assets under management as of June 30, 2025. With a singular focus on generating substantial capital growth through controlling investments in a diverse array of sectors, KPS engages with talented management teams to enhance operational capacities and strategically position their portfolio companies, ultimately resulting in increased profitability and competitiveness.