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October 5, 2020
By: Coatings World staff
Gelest has completed the sale of Gelest Intermediate Holdings to Mitsubishi Chemical America, Inc., the U.S. subsidiary of Mitsubishi Chemical Corporation.
Gelest Intermediate Holdings is the parent of Gelest, Inc. and Bimax, Inc.
The transaction, which was announced on April 30, 2020, has cleared all regulatory approvals.
Gelest was founded in 1990 by Dr. Barry Arkles and Kevin King and has become a global leader in silicones, organosilanes, metal-organics, and specialty monomers technology, manufacturing, and supply for high-growth materials-science intensive applications such as medical devices, life sciences, microelectronics, and personal care.
In March 2017, New Mountain Capital, LLC. made a majority investment in Gelest and has worked with the founders and management to scale the company through organic initiatives and M&A.
“We are extremely proud of the efforts of everyone who has contributed to making 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 programs. This has made Gelest an extremely valuable partner to customers around the world,” said Arkles, chair of Gelest.
“New Mountain Capital has been a terrific partner and helped us to significantly grow the company over the past three years. We now look forward to joining MCC where their capabilities and breadth will allow Gelest to create even more value for customers and opportunities for employees,” said Ken Gayer, CEO of Gelest.
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