Mitsubishi Chemical Corporation’s (MCC) subsidiary Mitsubishi Chemical America has signed a definitive agreement to buy all of the issued and outstanding shares of hybrid chemicals manufacturer Gelest Intermediate Holdings, which is the parent firm of Gelest and a portfolio company of New Mountain Capital.

 

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.

 

MCA president Steve Yurich said: “We are excited to acquire Gelest as its business fits well within MCC’s long-term strategy. 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.

 

“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 chairman and CTO Barry Arkles said: “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 programmes. This has made Gelest an extremely valuable partner to customers around the world.”

 

MCC stated that it will continue to boost its technology platform, leverage its R&D capabilities and pursue new business development opportunities in new markets to boost expansion.