Mitsubishi Chemical Corporation (MCC; Head office: Chiyoda-ku, Tokyo; President: Masayuki Waga) completed the acquisition of Gelest, Inc. (Gelest;Head office: Pennsylvania, the United States; Chair: Barry Arkles, CEO: Ken Gayer) from New Mountain Capital, LLC. (NMC; Head office: New York, the United States) on October 1, 2020.
On April 30, 2020, MCC announced that its subsidiary Mitsubishi Chemical America, Inc. entered into a definitive agreement to acquire all of the issued and outstanding shares of Gelest Intermediate Holdings, Inc., the parent of Gelest, and a portfolio company of NMC. MCC has now completed the acquisition, with Gelest becoming a wholly owned subsidiary of Mitsubishi Chemical America.
MCC will dispatch an executive to Gelest and establish a Post-Merger Integration Office within the company to oversee the execution of identified strategies using the technology and capabilities of each organization to positively impact the value delivered to customers and the organization’s performance.
MCC will continue to execute its strategy of enhancing its technology platform, leveraging its extensive R&D capabilities and pursuing new business development opportunities in new markets to drive further expansion in the future.
Overview of Gelest, Inc.
Location: Morrisville, Pennsylvania, the United States (Head office)
Established: 1991
Representatives: Ken Gayer, CEO; Barry Arkles, Chair; Teruyuki Mitsumori; Executive Vice President
Number of employees: Approximately 240 (as of July 1, 2019)
Key businesses: Developing, manufacturing, and selling silicon chemicals, methacrylates, and
metal-organic compounds
Website: For more information please visit www.gelest.com
Reference:
The press release:“Mitsubishi Chemical to Bolster Technology Platform Through Acquisition of American Organic and Inorganic Hybrid Chemicals Manufacturer Gelest from New Mountain Capital”issued on April 30, 2020.
For further information, please contact:
Public Relations and Investor Relations Office
Mitsubishi Chemical Holdings Corporation
Tel: [+81] (0)3-6748-7140