Mitsubishi Chemical Acquires Gelest
Mitsubishi Chemical Corporation (MCC), through its subsidiary Mitsubishi Chemical America, Inc. (MCA), entered into a definitive agreement to acquire Gelest Intermediate Holdings, Inc., parent of Gelest, Inc. and part of New Mountain Capital, LLC (NMC).
“We are excited to acquire Gelest as its business fits well within MCC’s long-term strategy,” said Steve Yurich, President, 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.”
Gelest is an American innovator, manufacturer, and supplier of silicones, organosilanes, metal-organics, and specialty monomers.
“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, Gelest.
The transaction is expected to be completed in 2020.