Entegris completes sale of PIM business to SCF Partners for up to $285M

Entegris announced that it has completed the sale of its Pipeline and Industrial Materials business to SCF Partners, Inc., an energy investment firm, for a purchase price of up to $285M, consisting of $260M in cash that has been received at closing, subject to customary post-closing adjustment, and a $25M earnout based on the achievement of certain 2025 and 2026 financial performance targets. The PIM business was acquired by Entegris with the acquisition of CMC Materials in July 2022, and sells drag reducing agents and a range of valve maintenance products and services for pipeline operations. The proceeds of this transaction will be used for further debt paydown.