Mitsubishi Chemical Corporation 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. and a portfolio company of New Mountain Capital.
Completion of Transaction Expected in 2020
Completion of the transaction is expected in 2020, pending customary regulatory review and approval. Gelest is an American innovator, manufacturer, and supplier of silicones, organosilanes, metal-organics, and specialty monomers for advanced technology end markets including medical devices, life sciences, microelectronics, and personal care.
Gelest helps customers succeed by assisting them to develop and supply the chemistry to solve their most challenging materials science problems and enable their new product technology.
“
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,” said Steve Yurich, president of MCA.
Creating New Solutions for Customers
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 are excited to join MCC during our next stage of growth. MCC’s breadth and depth in the advanced materials sector will allow Gelest to create even more value for our customers and opportunities for our employees,” said Barry Arkles, chairman and CTO of Gelest.Ken Gayer, CEO of Gelest.
Since partnering with Gelest in 2017, New Mountain Capital has 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,” said Andre Moura, managing director at NMC and lead director of Gelest.
MCC will 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.
Source: Mitsubishi Chemical Corporation