Mitsubishi Chemical Corporation has announced that its subsidiary, Mitsubishi Chemical America, Inc., 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, LLC. Completion of the transaction is expected in 2020, pending customary regulatory review and approval.
“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. “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.”
MCC stated that it 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.
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from American Coatings Association https://www.paint.org/mitsubishi-chemical-to-acquire-gelest/
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