WAYNE, Pa. , Sept. 11, 2025 /PRNewswire/ -- Ecovyst Inc. (NYSE: ECVT) ("Ecovyst" or the "Company"), a leading integrated and innovative global provider of advanced materials, specialty catalysts, virgin sulfuric acid and sulfuric acid regeneration services , announced today that it entered into a definitive agreement to sell its Advanced Materials & Catalysts segment to Technip Energies ("Buyer"), a global technology and engineering company, for a purchase price of $556 million. The transaction represents a 9.8x EBITDA multiple on the segment's Adjusted EBITDA¹ for the year ended December 31, 2024, adjusted for standalone operating costs and employee stock compensation. The closing of the transaction is anticipated in the first quarter of 2026, pending regulatory approvals and satisfaction of customary closing conditions. 

"The Advanced Materials & Catalyst segment is a high-quality business with attractive margins. We determined that the market undervalued the segment, prompting a strategic review. We believe this sale, approved by our Board, will allow us to realize its value for our stockholders," said Kurt J. Bitting, Ecovyst's CEO. 

"This transaction marks a pivotal moment for Ecovyst," added Bitting. "Net proceeds after taxes and transaction-related expenses are expected to be approximately $530 million. Taking into consideration a partial repayment of our Term Loan and remaining liquidity, this transaction will result in an Ecovyst with a stronger balance sheet and greater financial flexibility. Ecovyst will be well-positioned to accelerate growth, pursue strategic opportunities, and with approximately $200 million remaining under our existing share repurchase authorization, return capital to stockholders in a disciplined and impactful way."

Arnaud Pieton, CEO of Technip Energies, commented: "The acquisition of Advanced Materials & Catalysts is accretive for Technip Energies and is in line with our disciplined capital allocation strategy to drive long-term value creation. It brings differentiated capabilities in catalyst technologies and advanced materials, enhancing our ability to deliver high-performance, process-critical solutions to our clients. This acquisition is an important step in strengthening our technology platform, bringing a new dimension to our catalyst business and unlocking avenues for product development and market expansion. We are delighted to welcome the Advanced Materials & Catalysts team as we continue building a more integrated and technology-driven portfolio."

After partial repayment of the Company's Term Loan, as required by the Term Loan agreement, the Company expects a projected Net Debt Leverage Ratio of below 1.5x. The Company plans to provide additional details on its targeted leverage and its capital allocation plans upon closing of the transaction.

Lazard, Inc. is serving as financial advisor, and Ropes & Gray LLP is serving as legal counsel to Ecovyst. Evercore is serving as financial advisor, and Gibson, Dunn & Crutcher LLP is serving as legal counsel to Technip Energies.

About Ecovyst

Ecovyst Inc. and subsidiaries is a leading integrated and innovative global provider of advanced materials, specialty catalysts, virgin sulfuric acid and sulfuric acid regeneration services. We support customers globally through our strategically located network of manufacturing facilities. We believe that our products and services contribute to improving the sustainability of the environment.

We have two uniquely positioned specialty businesses: Ecoservices provides sulfuric acid recycling to the North American refining industry for the production of alkylate and provides high quality and high strength virgin sulfuric acid for industrial and mining applications. Ecoservices also provides chemical waste handling and treatment services, as well as ex-situ catalyst activation services for the refining and petrochemical industry. Advanced Materials & Catalysts, through its Advanced Silicas business, provides finished silica catalysts, catalyst supports and functionalized silicas necessary to produce high performing plastics and to enable sustainable chemistry, and through its Zeolyst Joint Venture, innovates and supplies specialty zeolites used in catalysts that support the production of sustainable fuels, remove nitrogen oxides from diesel engine emissions and that are broadly applied in refining and petrochemical process. For more information, see our website at https://www.ecovyst.com.

About Technip Energies

Technip Energies is a global technology and engineering company. With leadership positions in LNG, hydrogen, ethylene, sustainable chemistry, and CO2 management, Technip Energies is contributing to the development of critical markets such as energy, energy derivatives, decarbonization, and circularity. Its complementary business segments, Technology, Products and Services (TPS) and Project Delivery, turn innovation into scalable and industrial reality. Through collaboration and excellence in execution, its 17,000+ employees across 34 countries are fully committed to bridging prosperity with sustainability for a world designed to last. Technip Energies generated revenues of €6.9 billion in 2024 and is listed on Euronext Paris. The Company also has American Depositary Receipts trading over the counter. For further information: www.ten.com

Presentation of Non-GAAP Financial Measures

In addition to the results provided in accordance with U.S. generally accepted accounting principles ("GAAP") throughout this press release, the Company has provided non-GAAP financial measures — segment Adjusted EBITDA, as adjusted for standalone operating costs and employee stock compensation and Net Debt Leverage Ratio (collectively, "Non-GAAP Financial Measures") — which present results on a basis adjusted for certain items. The Company uses these Non-GAAP Financial Measures for business planning purposes and in measuring its performance relative to that of its competitors. The Company believes that these Non-GAAP Financial Measures are useful financial metrics to assess its operating performance from period-to-period by excluding certain items that the Company believes are not representative of its core business. These Non-GAAP Financial Measures are not intended to replace, and should not be considered superior to, the presentation of the Company's financial results in accordance with GAAP. The use of the Non-GAAP Financial Measures terms may differ from similar measures reported by other companies and may not be comparable to other similarly titled measures. These Non-GAAP Financial Measures are reconciled from the respective measures under GAAP in the attached appendix.

In reliance upon the unreasonable efforts exemption provided under Item 10(e)(1)(i)(B) of Regulation S-K, the Company is not able to provide a reconciliation of Net Debt Leverage Ratio to the corresponding GAAP measures without unreasonable effort because of the inherent difficulty in forecasting and quantifying certain amounts necessary for such a reconciliation such as certain cash and non-cash items that are included in net income and net cash provided by operating activities as well as the related tax impacts of these items, due to the uncertainty and variability of the nature and amount of these future charges and costs. Because this information is uncertain, the Company is unable to address the probable significance of the unavailable information, which could be material to future results.

Note on Forward-Looking Statements

Some of the information contained in this press release constitutes "forward-looking statements." Forward-looking statements can be identified by words such as "anticipates," "intends," "plans," "seeks," "believes," "estimates," "expects," "projects," "aims" and similar references to future periods. Forward-looking statements are based on our current expectations and assumptions regarding our business, the economy and other future conditions. Because forward-looking statements relate to the future, they are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict. Examples of forward-looking statements include, but are not limited to, the anticipated benefits and timing of the closing of the transaction, expected net proceeds and the intended use of proceeds from the transaction including the debt reduction, and our anticipated financial position following consummation of the transaction, including projected Net Debt Leverage Ratio. Our actual results may differ materially from those contemplated by the forward-looking statements. We caution you, therefore, against relying on any of these forward-looking statements. They are neither statements of historical fact nor guarantees or assurances of future performance. Important factors that could cause actual results to differ materially from those in the forward-looking statements include, but are not limited to: the possibility that the conditions to the closing of the transaction are not satisfied, including the risk that required regulatory approvals are not obtained, on a timely basis or at all; the occurrence of any event, change or other circumstance that could give rise to a right to terminate the transaction; unexpected costs, liabilities or delays in connection with the transaction; legal proceedings initiated in connection with the transaction; an expected material loss related to the transaction to be reported in discontinued operations in the Company's financial statements; regional, national or global political, economic, business, competitive, market and regulatory conditions, including the enactment, schedule and impact of tariffs and trade disputes; currency exchange rates; the effects of inflation; and other factors, including those described in the sections titled "Risk Factors" and "Management's Discussion & Analysis of Financial Condition and Results of Operations" in our filings with the SEC, which are available on the SEC's website at www.sec.gov. These forward-looking statements speak only as of the date of this release. Factors or events that could cause our actual results to differ may emerge from time to time, and it is not possible for us to predict all of them. We undertake no obligation to update any forward-looking statement, whether as a result of new information, future developments or otherwise, except as may be required by applicable law.

For more information:
Gene Shiels – Director of Investor Relations
(484) 617 1225
gene.shiels@ecovyst.com

¹ Based on Adjusted EBITDA for the Advanced Materials & Catalysts segment for the year ended December 31, 2024 of $64.7 million, less an estimated $8.2 million of standalone operating costs and employees stock compensation.

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SOURCE Ecovyst Inc.