Mitsubishi Chemical buys Gelest
The US subsidiary of Mitsubishi Chemical (MCC) has entered into a definitive agreement to acquire Gelest from private equity firm New Mountain Capital, which had owned the firm since 2017. The deal should be completed within 2020, subject to regulatory review and approval. Terms were not disclosed.
Based at Morrisville, Pennsylvania, Gelest supplies silicones, organosilanes, metal-organics and speciality monomers for applications including medical devices, life sciences, microelectronics and personal care. It employed about 240 people as of mid-2019. MCC is Japan’s largest chemical company.
Steve Yurich, president of the US operation, said: “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”.