Gelest recently announced that it has completed the sale of Gelest Intermediate Holdings to Mitsubishi Chemical America, Inc. (MCA), the U.S. subsidiary of Mitsubishi Chemical Corp. (MMC). 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 Barry Arkles, Ph.D., and Kevin King. The company produces silicones, organosilanes, metal-organics, and specialty monomers technology for high-growth materials science-intensive applications such as medical devices, life sciences, microelectronics, and personal care. In March 2017, New Mountain Capital, LLC (NMC) 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 make 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,” said Arkles.
According to Ken Gayer, CEO 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.”
“Gelest fits well with MCC’s strategy,” said Steve Yurich, president of MCA. “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.”
Gelest also announced that Jonathan Goff, Ph.D., has been promoted to the role of chief technology officer (CTO). Goff joined Gelest in 2009 and currently manages the Polymer Development, Technical Services, Silanes & Metal-Organic, Research Engineering, and Quality Control groups. He received his doctorate in macromolecular science and engineering from Virginia Tech, is cited as inventor on 12 patents, and has published over 40 technical articles. Arkles will continue serving both Gelest and MCC in the role of senior executive fellow.