MORRISVILLE, Pa.—Mitsubishi Chemical America Inc. is acquiring all the issued and outstanding shares of Gelest Intermediate Holdings, a supplier of silicones, organosilanes, metal organics and specialty monomers.
The U.S. subsidiary of Mitsubishi Chemical Corp., which is Japan's largest chemical company, says the acquired company fits with its long-term strategy to enhance its technology platform and research and development capabilities.
Founded in 1991, Morrisville-based Gelest has about 240 employees that develop and supply chemistry for new product technology and other materials science challenges.
"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," MCA President Steve Yurich said in a news release.
Gelest will benefit from the deal, too, he added.
"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," Yurich said.
Gelest officials said MCC will help the company reach its next stage of growth.
"MCC's breadth and depth in the advanced materials sector will allow Gelest to create even more value for our customers and opportunities for our employees," Gelest CEO Ken Gayer said in the release.
Gelest is a portfolio company of New Mountain Capital L.L.C., which is based in New York. The transaction is expected to be completed in 2020 pending customary regulatory review and approval.