Albemarle has transferred majority ownership of Ketjen’s refining catalyst solutions business to KPS Capital Partners, transferring operational control and board majority while maintaining a minority equity position. The Performance Catalyst Solutions unit remains fully owned and integrated into Albemarle’s existing product portfolio.

With the earlier Eurecat joint venture divestiture in January and this Ketjen transaction, Albemarle has generated $670 million in pre-tax proceeds. Management intends to apply these funds primarily toward debt reduction and general corporate purposes to strengthen the balance sheet.

The transaction refines Albemarle’s focus on core catalyst platforms and enhances financial flexibility while preserving upside through its retained minority stake. Collaboration with KPS aims to support Ketjen’s growth trajectory without diverting Albemarle’s resources from its lithium and bromine specialties.