Technip Energies buys Ecovyst's Advanced Materials & Catalysts business for $556 million
By Mateusz Rabiega
Sept 11 (Reuters) - French energy infrastructure company Technip Energies TE.PA said on Thursday it had agreed to buy U.S.-based chemicals group Ecovyst's ECVT.N Advanced Materials & Catalysts business for $556 million, sending its shares up over 4% in early trading.
Under the agreement the company, which specialises in technology for the energy sector, will acquire two entities, Advanced Silicas and Zeolyst International, to support its complementary segment - Technology, Products and Services (TPS).
The transaction broadens Technip's portfolio of advanced catalysts, which are materials used to speed up chemical reactions and improve efficiency in industrial uses, such as hydrocracking and production of sustainable fuels.
RBC Capital Markets analyst Victoria McCulloch said that the acquisition aligns with management's M&A strategy to strengthen the firm's TPS offerings and secure a business that is immediately cash flow and earnings accretive - a challenging feat in the energy transition space.
The deal is expected to close by the first quarter of 2026, pending regulatory approvals.
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