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Gelest Acquires Bimax
Gelest, Inc., a New Mountain Capital portfolio company, announced the acquisition of Bimax. Acquisition bolsters Gelest's portfolio of specialty materials and solutions for life sciences, medical devices, personal care and other advanced technology applications.
"The addition of Bimax is an important step in our strategic plan. Bimax strengthens our position in high-growth value-added applications, provides access to new customers and talent, and expands our production capability and R&D pipeline,” said Ken Gayer, Chief Executive Officer of Gelest.
“The acquisition of Bimax represents significant progress in New Mountain’s growth plan for Gelest. The two businesses are highly complementary, and the combination will provide enhanced value to customers,” said Andre Moura, Managing Director at New Mountain Capital. “New Mountain looks forward to continuing to support growth investment at Gelest.”
“We are extremely pleased with the opportunity to join Gelest. The two companies are very similar in terms of their driving focus on technology, end user need and growth. We see a bright future for Bimax and its customers as part of Gelest,” said Dr. Chris Sghibartz, Global Vice President of Bimax.
Bimax will continue to operate under the Bimax name, and all employees will be retained in their current roles. As they increasingly look for challenging materials and innovative technology solutions, customers of Gelest and Bimax will benefit from a wider product range, greater service infrastructure and the enhanced technical capabilities of the combined company.