Johnson Matthey completes acquisition of Cormetech
- Acquisition completed after customary closing conditions and regulatory approvals.
- Cormetech, founded in 1989, is a US SCR catalyst manufacturer serving over 400 customers across industrial, refining, petrochemical and power sectors.
- Cormetech’s gas-turbine and module IP complements Johnson Matthey’s Clean Air Solutions, enabling customised catalysts and systems.
- Combined business expected sales in excess of £200 million and an operating margin of at least mid-teens in 2026/27, targeting US power-generation demand driven by data centres.
Deal completion
Johnson Matthey has completed its acquisition of Cormetech following the satisfaction of customary closing conditions and receipt of all regulatory approvals.
Target and product fit
Cormetech, founded in 1989, is a US manufacturer of Selective Catalytic Reduction (SCR) catalysts serving more than 400 customers. Its portfolio targets emissions from industrial, refining, petrochemical and power generation installations.
Strategic rationale
The company’s gas-turbine and module intellectual property is reported to be complementary to Johnson Matthey’s Clean Air Solutions business, enabling the combined group to offer customised catalysts and systems across a range of energy platforms and to deepen presence in the US power-generation market.
Market drivers and financial outlook
Johnson Matthey cites tightening emissions regulations, decarbonisation trends and rapid data-centre construction as demand drivers for emission-control technologies. The combined Clean Air business is expected to deliver sales in excess of £200 million and an operating margin of at least mid-teens in 2026/27.
Source: Johnson Matthey
