Technip Energies N.V. (ENXTPA:TE) entered into a definitive agreement to acquire Advanced Materials & Catalysts Segment of Ecovyst Inc. for approximately $560 million on September 10, 2025. The purchase price is subject to certain adjustments including for indebtedness, cash, working capital and transaction expenses, as set forth in the Purchase Agreement. The transaction represents a 9.8x EBITDA multiple on the segment's Adjusted EBITDA for the year ended December 31, 2024. Advanced Materials & Catalysts had a revenue of $223 million and EBITDA of $57 million for 2024.

The closing of the transaction is subject to pending regulatory approvals, antitrust approval, satisfaction of customary closing conditions and approval by Ecovyst Board. Transaction has been approved by Ecovyst Board and is anticipated in the first quarter of 2026. On January 2, 2026, it was announced that the Company expects net proceeds after taxes and transaction expenses to be approximately $530 million, resulting in a Net Debt Leverage Ratio below 1.5x. As part of the closing, the Company used $465 million of the net proceeds to pay down its Term Loan.

Lazard Frères & Co. LLC is serving as financial advisor, and Tara Fisher, Craig Marcus, David Saltzman, Andrew Howard, Kyle Higley, Arek Maczka, Erica Han and Emerson Siegle of Ropes & Gray LLP and Babst, Calland, Clements and Zomnir, PC is serving as legal advisor to Ecovyst. Evercore Inc. is serving as financial advisor, and Tull Florey, Greg Nelson, Krista Hanvey, Sophia Hansell, Attila Borsos, Chris Timura, Daniel Angel and Richard Sen of Gibson, Dunn & Crutcher LLP is serving as legal advisor to Technip Energies. EY-Parthenon as accounting and Tax advisor to Technip Energies.

Technip Energies N.V. (ENXTPA:TE) completed the acquisition of Advanced Materials & Catalysts Segment of Ecovyst Inc. on December 31, 2025.