KPS Capital Partners Acquires Controlling Stake in Ketjen Refining Solutions Business From Albemarle

Paul, Weiss advised KPS Capital Partners on its acquisition, through newly formed affiliates, of a controlling stake in Ketjen Corporation’s refining catalyst solutions business from Albemarle Corporation. Houston-based Ketjen is a leading global manufacturer of advanced catalyst solutions used to refine crude oil and renewable energy sources into fuels and chemicals for multiple applications. Under the agreement, KPS and Albemarle own approximately 51% and 49% of Ketjen, respectively, with KPS having a majority of the board of directors and operational control of Ketjen. Albemarle retains 100% ownership of Ketjen’s Performance Catalysts Solutions business, which has been integrated into Albemarle’s product portfolio. Financial details were not disclosed.

The Paul, Weiss team was led by corporate partners Angelo Bonvino, Michael Vogel and Daniel Fuschillo, and included partners Tong Yu and Steven Kaye; antitrust partners Ross Ferguson and Yuni Sobel; tax partner Robert Killip; intellectual property partner Chuck Googe; executive compensation partner Jarrett Hoffman; real estate partner Peter Fisch; litigation partner Nicole Succar and counsel Audrey Paquet and Benjamin Klein; and environmental counsel William O’Brien.