Gelest Shareholders Close Sale to Mitsubishi Chemical
MORRISVILLE, PA – Gelest announced it has completed the sale of Gelest Intermediate Holdings to Mitsubishi Chemical America Inc. (MCA), the U.S. subsidiary of Mitsubishi Chemical Corp. (MCC). 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. In March, 2017, New MountainCapital 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.