Ecovyst Inc. (ECVT), a provider of virgin sulfuric acid and regenerated sulfuric acid products and services, on Friday said it has agreed to acquire the Calabrian sulfur dioxide and related sulfur derivatives business from INEOS Enterprises for $190 million.
Following the deal, Ecovyst expects to broaden its portfolio into products such as sulfur dioxide, sodium bisulfite, sodium thiosulfate, and sodium metabisulfite, leveraging overlap in customers, end-markets, and chemistry with its existing operations.
The deal is expected to close by the end of second quarter of 2026.
The transaction values Calabrian at approximately 8.0x its trailing twelve-month adjusted EBITDA of about $23.7 million, that is expected to decline to below 7.0x if identified synergies are realized over three years, said Mike Feehan, Ecovyst's CFO.
Ecovyst plans to fund the acquisition through a mix of cash on hand and new debt, with the combined company expected to have a net debt leverage ratio of around 2x at closing.
Ecovyst shares were up more than 1% in pre-market trading after closing at $14.18 on Thursday.
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