USA: Business Takeover Mitsubishi Chemical Successfully Completes Gelest Acquisition
With the acquisition, Gelest has now become a wholly owned subsidiary of Mitsubishi Chemical America. Mitsubishi Chemical Corporation also has plans to set up a post-merger integration office in Gelest to supervise the company’s operations.
Japan – Mitsubishi Chemical Corporation (MCC) has recently completed the acquisition of Gelest from New Mountain Capital (NMC) on October 1, 2020. On April 30, 2020, MCC announced that its subsidiary Mitsubishi Chemical America entered into a definitive agreement to acquire all of the issued and outstanding shares of Gelest Intermediate Holdings, 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 organisation to positively impact the value delivered to customers and the organisation’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.