Mitsubishi Chemical acquires chemical maker Gelest
Headquartered in Morrisville, Pa., Gelest manufactures and supplies silicones, organosilanes, organometallic materials, and specialty monomers.
Mitsubishi Chemical America Inc. (MCA), a subsidiary of Tokyo-based Mitsubishi Chemical Corp. (MCC), has acquired U.S.-based chemicals and materials group Gelest from New Mountain Capital.
The financial terms of the deal have not been disclosed.
Gelest, headquartered in Morrisville, Pa., was founded in 1991 and is a manufacturer and supplier of silicones, organosilanes, organometallic materials, and specialty monomers for high-tech applications including medical technology and life sciences, microelectronics and personal care.
“We are excited to acquire Gelest, as its business fits well within MCC’s long-term strategy,” said 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-science applications. We look forward to working alongside the team at Gelest to drive the continued growth of the company.”
MCC is Japan’s largest chemicals company, and offers a wide range of products and technologies to support performance products and industrial markets.
Completion of the transaction is expected in 2020.