Evonik to acquire US catalyst rejuvenation firm Porocel

摘要

Evonik Industries says it is acquiring catalyst rejuvenation firm Porocel Group (Houston, Texas) for $210 million. The purchase price is 9.1 times adjusted EBITDA in 2019, which Evonik says “is an attractive valuation for a high-quality asset in the catalyst sector.” The transaction will be financed by Evonik’s “strong cash position” and is expected to close by the end of 2020 subject to approval by the relevant authorities, the company says.