K&L Gates Advises Albemarle on Sale of a Controlling Stake in Ketjen to KPS Capital Partners

Global law firm K&L Gates LLP advised Albemarle Corporation (NYSE: ALB), a global leader in providing essential elements for mobility, energy, connectivity and health, in the sale of a controlling stake in Ketjen Corporation’s refining catalyst solutions business (Ketjen) to KPS Capital Partners, LP, a New York City-based global private equity firm. Ketjen is a Houston, Texas-based business that provides advanced catalyst solutions to leading producers in the petrochemical and refining industries.

At closing, Albemarle and KPS, through affiliates, will own approximately 49% and 51% of Ketjen, respectively, with KPS having a majority of the Board of Directors and operational control of Ketjen. Separately, Albemarle will sell the entirety of its 50% interest in the Eurecat joint venture to Axens SA. The transactions are expected to close in the first half of 2026, subject to customary conditions and regulatory approvals. Across the two transactions, Albemarle expects to receive total pre-tax proceeds of approximately $660 million, while also retaining an approximately 49% stake in Ketjen.

The K&L Gates M&A team was led by Charlotte partner Leah Baucom, with assistance from Charlotte associates Nick Kitko, Anna Sgrignoli, and Dylan Blackburn, and Raleigh associate Austin Panameno. Charlotte partner Randy Clark counseled on tax matters. The securities team was led by Charlotte partners Sean Jones and Coleman Wombwell. San Francisco partner Rikki Sapolich-Krol and Seattle associate Rachel Morowitz advised on employee benefits and executive compensation matters, and Pittsburgh partner Michael Pavlick, Raleigh partner David Lindsay, and Charlotte associate Brittany Raia provided advice on labor, employment, and workplace safety matters. Boston partner James Fajkowski provided intellectual property counsel, Seattle partner Jake Bernstein and Washington, DC associate Eric Vicente Flores advised on data privacy and security matters, Harrisburg partner Tad Macfarlan and associate Sam Boden provided advice on environmental matters. Pittsburgh partner Jessica White advised on real estate issues. Charlotte based partner Marla Tun Reschly also provided strategic advice on the transaction.

The sale of Ketjen’s Eurecat interest was led by Paris partner Raphael Bloch, with assistance from Paris senior associate Martin Borey.

Baucom stated: “This transaction showcases K&L Gates’ ability to seamlessly coordinate across our global platform and draw on the strengths of our multidisciplinary teams. Advising Albemarle on complex cross-border deals reflects our commitment to delivering comprehensive solutions that address every facet of our clients’ strategic objectives. We are proud to support Albemarle in advancing its vision and look forward to seeing Ketjen thrive in its next chapter.”

K&L Gates’ Corporate practice is one of the most substantial in the legal industry, with hundreds of lawyers in offices across the globe providing clients with practical legal solutions in the structuring, financing, and completion of domestic, international, and cross-border transactions.