Mitsubishi Chemical Corporation (MCC) announced that its subsidiary Mitsubishi Chemical America, Inc. (MCA) has entered into a definitive agreement to acquire all of the issued and outstanding shares of Gelest Intermediate Holdings, Inc., the parent of Gelest, Inc. and a portfolio company of New Mountain Capital, LLC. Completion of the transaction is expected in 2020, pending customary regulatory review and approval.

Established in 1991 and headquartered in Pennsylvania, Gelest is an American company that develops, manufactures and sells silicon chemicals, methacrylates, metal-organic compounds, and speciality monomers for advanced technology end markets, including medical devices, life sciences, microelectronics, and personal care. Gelest helps customers succeed by assisting them to develop and supply the chemistry to solve their most challenging materials science problems and enable their new product technology. Gelest has approximately 240 employees.

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.