Slaughter and May is advising Johnson Matthey Plc (JM) on the sale of its Catalyst Technologies business (CT) to Honeywell International, Inc. at an enterprise value of £1.8 billion (on a cash and debt-free basis).
The transaction is expected to deliver substantial value to JM shareholders and will see JM reposition itself as a highly streamlined group focused on its Clean Air and PGMS businesses.
The CT business is a global leader in the licensing of process technology and supply of catalysts. CT uses advanced technology and expertise in catalysis chemistry to provide solutions for customers to decarbonise and increase the yield and efficiency of their chemical processes. CT has a pipeline of more than 150 sustainable technologies project, a global manufacturing, licensing and engineering footprint and around 1,900 employees across the world.
The transaction, which is subject to the receipt of regulatory approvals, is expected to complete by the first half of 2026.
Slaughter and May is working closely with Johnson Matthey’s in-house legal team, led by Simon Price (General Counsel and Company Secretary) and Joanne Holmes (General Counsel, Group).
Lily Tebbutt / Trainee, Carys Miller / Trainee