Mitsubishi Chemical Announces Acquisition
Mitsubishi Chemical Corporation's (MCC) subsidiary Mitsubishi Chemical America, Inc. (MCA) has entered into a definitive agreement to acquire all of the issued and outstanding shares of Gelest Intermediate Holdings, Inc., and a portfolio company of New Mountain Capital, LLC., MCC announced in a Thursday press release.
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,” says Steve Yurich, president of MCA. “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.”
MCC will continue to execute its strategy of enhancing its technology platform, leveraging its extensive research and development capabilities and pursuing new business development opportunities in new markets to drive further expansion in the future.
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