Mitsubishi Chemical completes acquisition of Gelest
Based in Morrisville, Pa., Gelest produces silicon chemicals, methacrylates, and metal-organic compounds.
Mitsubishi Chemical America Inc. (MCA), a subsidiary of Tokyo-based Mitsubishi Chemical Corp. (MCC), has completed its acquisition of U.S.-based chemicals and materials group Gelest from private equity firm New Mountain Capital.
The transaction was announced on April 30, 2020
The financial terms of the deal have not been disclosed.
Based in Morrisville, Pa., Gelest produces silicon chemicals, methacrylates, and metal-organic compounds. It has about 240 employees. Founded in 1991, Gelest had been majority owned since 2017 by New Mountain Capital.
“Gelest fits well with MCC’s strategy,” SteveYurich, president of MCA, said in an Oct. 1 statement . “MCC’s operating resources and customer network will enhance the ability to bring Gelest’s cutting-edge technologies to market and accelerate the development of new customer solutions. We look forward to working alongside the Gelest team to drive continued growth.”