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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.
Source: Mitsubishi Chemical
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