Materials Company Acquires Performance Chemicals Firm
Materials science company Gelest Inc. (Morrisville, Pennsylvania) announced earlier this month the acquisition of Bimax (Glen Rock, Pennsylvania), a company that specializes in the production of specialty monomers and polymers often used in coatings and adhesives, along with personal care products and other materials.
According to Gelest, the company produces silicones, organosilanes and metal-organics for markets including: medical device, life sciences, microelectronics and other sectors. Bimax was founded in 1987.
Moving forward, Bimax will continue doing business under its current name, and employees will retain their current positions. Customers of both companies will be able to access a more diversified range of products, as well as better service infrastructure.
"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.
“Like Gelest, Bimax has a long track record of growth built over decades of developing products based on specific and unique customer needs. Bimax fits very well with our corporate culture and our philosophy of enabling our customers’ technology, and we look forward to working with the management team at Bimax going forward.”
Gelest is a New Mountain Capital portfolio company; New Mountain is a New York-based investment firm. Financial terms of the deal were not disclosed.