KPS Capital Partners Expands Portfolio with Ketjen Acquisition
New Company Will Be a Global Leader in Advanced Catalysts and Additives for the Refining and Petrochemical Industries
New York - KPS Capital Partners, LP ("KPS") is thrilled to announce its latest strategic move in the refining catalysts arena. Through a newly formed affiliate, KPS has signed a definitive agreement to acquire a controlling stake in Ketjen Corporation's refining catalyst solutions business from Albemarle Corporation (NYSE: ALB). This exciting partnership signifies a new chapter for Ketjen and is designed to establish it as a global frontrunner in advanced catalyst solutions.
At the close of the transaction, KPS and Albemarle will hold approximately 51% and 49% of Ketjen respectively, enabling KPS to take majority control over the Board of Directors and operational leadership. Albemarle will maintain full ownership of Ketjen's Performance Catalyst Solutions business, poised to complete this deal in the upcoming first quarter of 2026, pending standard approvals.
Ketjen Corporation stands out as a premier manufacturer of advanced catalyst solutions. Its catalysts are utilized in transforming crude oil and renewable feedstocks into high-quality fuels and chemicals for various applications, including petrochemicals, transportation, and agriculture. The Company is headquartered in Houston, Texas, boasting a workforce of around 840 employees, along with two operating manufacturing facilities, two research and technology centers, and joint ventures across North America, Europe, and Asia.
Raquel Vargas Palmer, Managing Partner at KPS, remarked on the acquisition, saying, "We are excited to make a controlling investment in Ketjen, a leading global provider of mission-critical catalysts and additives for petrochemical and fuel producers. The solutions provided by Ketjen are pivotal for manufacturing sustainable fuels and chemicals, and align with our goals of enhancing production yields for improved profitability. Our extensive experience in global manufacturing will foster an innovative culture aimed at continuous improvement and growth for Ketjen. We are eager to collaborate with Ketjen's dedicated employees and management to drive the company's success.”
Michael Simmons, President of Ketjen, expressed his optimism about the new partnership: "We are excited to join forces with KPS as we embark on this new journey as an independent entity. KPS’s strong background in investing and cultivating industrial businesses reassures us that we have a partner ready to support our ambitions and help us solidify our market position further. Together, we aim to enhance our operational efficiencies and strengthen relationships with our global customer base."
Kent Masters, Chairman and CEO of Albemarle, added his insights regarding the partnership, mentioning, "KPS has demonstrated exceptional capabilities in steering large industrial ventures. Our retained position in Ketjen illustrates our strong belief in the company’s earnings potential under the guidance of KPS. We look forward to a collaborative journey to elevate Ketjen’s growth trajectory.”
Significant support for this transaction has been secured from leading financial institutions, ensuring a solid foundation for the next steps in Ketjen's evolution.
About Ketjen
Ketjen's refining catalyst division excels in offering advanced catalyst solutions tailored for leading producers in the petrochemical and refining sectors. Their innovative approaches range from fluidized catalytic cracking to clean fuel solutions, ensuring optimal production performance and operational safety. Ketjen proudly serves a wide array of clients across 25 global markets.
About Albemarle
Albemarle Corporation (NYSE: ALB) is at the forefront of transforming essential resources into crucial materials powering mobility, energy retention, and health. Their commitment is focused on delivering high-quality global supplies of lithium and bromine for advanced customer solutions.
About KPS Capital Partners
KPS manages the KPS Special Situations Funds, consisting of investment funds with approximately $19.4 billion in assets. For over thirty years, KPS has dedicated its efforts exclusively to generating significant capital growth by heavily investing in manufacturing companies across diverse sectors. Through strong collaboration with management teams, KPS seeks to enhance business competitiveness and profitability to drive investor returns.
Frequently Asked Questions
1. What is the main focus of KPS Capital Partners?
KPS Capital Partners primarily invests in manufacturing and industrial companies to enhance their operations and profitability.
2. What does the acquisition of Ketjen signify for KPS?
This acquisition allows KPS to expand its influence in the refining catalysts market and gain significant operational control over a leading company.
3. How will the acquisition impact Ketjen's future?
Under KPS's guidance, Ketjen aims to innovate and improve its product offerings, potentially enhancing its market position and customer relations.
4. What industries does Ketjen serve?
Ketjen serves industries such as petrochemicals, transportation, and agriculture by providing advanced catalyst solutions.
5. Where is Ketjen headquartered?
Ketjen is headquartered in Houston, Texas, and operates globally across multiple markets.
