Mitsubishi Chemical America to Acquire Gelest
MCA’s technology platform will be bolstered though acquisition of organic and inorganic hybrid chemicals manufacturer Gelest.
Japan’s Mitsubishi Chemical Corp. (MCC) has announced that its subsidiary Mitsubishi Chemical America (MCA), New York., N.Y., has entered into a definitive agreement to acquire all of the issued and outstanding shares of Gelest Intermediate Holdings, Inc., the parent of Gelest, Inc, Morrisville, Penn., and a portfolio company of New Mountain Capital, LLC. (NMC). An American innovative manufacturer and supplier of silicones (including Biosafe antimicrobials for plastics), organosilanes, metal-organics, and specialty monomers Gelest services advanced technology end markets including medical devices, life sciences, microelectronics, and personal care. Completion of the transaction is expected within 2020, pending customary regulatory review and approval.
Said MCA president Steve Yurich,“We are excited to acquire Gelest as its business fits well within MCC’s long-term strategy. Since becoming familiar with Gelest, we have recognized the tremendous capabilities in research and development and production that help create its outstanding position with key customers. Furthermore, MCC’s operating resources and customer network will enhance the ability to bring Gelest’s technologies to market and accelerate the development of new customer solutions to drive advances in digital social infrastructure, vision care, and other life-sciences applications. We look forward to working alongside the team at Gelest to drive the continued growth of the company.”
“We are extremely proud of the efforts of everyone who has contributed to make Gelest the Company that it is today, with world-class technology and supply capabilities, made possible by the industry leading team we have built and support from NMC for our strategic investment programs. This has made Gelest an extremely valuable partner to customers around the world,” said Barry Arkles, Chairman and CTO of Gelest.
Said Andre Moura, managing director at NMC and lead director of Gelest. “Since partnering with Gelest in 2017, we have been extremely impressed by the management team and Gelest’s ability to innovate continuously to serve the evolving needs of its demanding customers. We are proud to have supported Gelest’s execution of an organic and inorganic growth strategy, and we thank everyone at Gelest for an exceptional partnership.”
MCC intends to continue to execute its strategy of enhancing its technology platform, leveraging its extensive R&D capabilities and pursuing new business development opportunities in new markets to drive further expansion in the future.
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