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Stock impact report

Technip Energies to acquire Ecovyst's Advanced Materials & Catalysts business [Yahoo! Finance]

Ecovyst Inc. (ECVT) 
Company Research Source: Yahoo! Finance
Technip Energies to acquire Ecovyst's Advanced Materials & Catalysts business Technip Energies (PARIS:TE) announces that it has entered into a definitive agreement to acquire the Advanced Materials & Catalysts business from Ecovyst Inc. (NYSE: ECVT), a global leader in specialty catalysts and advanced materials, for a purchase price of US$556 million, representing an EBITDA multiple of ~9.8. This transaction: Expands Technip Energies' catalyst capabilities and technology offering Increases recurring revenues for Technology, Products & Services (TPS) segment Is immediately accretive to earnings and cash flow This strategic transaction strengthens Technip Energies' portfolio by broadening its capabilities in advanced catalysts and process technologies. Catalysts are materials that accelerate chemical reactions and improve process efficiency, and are at the core of many process technologies, with applications in traditional markets, such as polyethylene or hydrocracking, and Show less Read more
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