New York – Mitsubishi Chemical America Inc. is acquiring all the issued and outstanding shares of Gelest Intermediate Holdings, a supplier of silicones, organosilanes, metal organics and speciality monomers.
The acquired business fits with the company’s long-term strategy to enhance its technology platform and R&D capabilities, said Mitsubishi Chemical in a 30 April statement.
Founded in 1991, Morrisville-based Gelest has about 240 employees that develop and supply chemistry for new product technology and other materials science challenges.
"Since becoming familiar with Gelest, we have recognised the tremendous capabilities in research and development and production that help create its outstanding position with key customers," MCA President Steve Yurich said.
Mitsubishi will work to bring Gelest's technologies to market and accelerate the development of new solutions in the areas of digital social infrastructure, vision care, and other life-sciences applications, Yurich added.
"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," Gelest CEO Ken Gayer said in the release.
Gelest is a portfolio company of New Mountain Capital LLC, which is based in New York. The transaction is expected to be completed in 2020 pending customary regulatory review and approval.