Gelest announces acquisition of Bimax
Market Expertz | July 04, 2019
Gelest, the Pennsylvania-based chemical manufacturer, has announced the acquisition of Bimax, the company that produces and markets specialty monomers and polymers, which are used in the manufacture of intraocular lenses, contact lenses, coatings and adhesives, personal care products, and other advanced technology applications. Gelest is a global leader and innovator in the materials science and technology as well as a New Mountain Capital portfolio company. Ken Gayer, CEO, Gelest has commented that the addition of Bimax to their portfolio is imperative for their growth strategy as the acquisition will strengthen its position in the growing, value-added applications, expand its production capability and R&D pipeline. The company will also be able to tap Bimax’s consumer base and talent.
Bimax will carry out its operations under the Bimax name and will retain all employees in their existing roles. As the company’s customers are continually seeking challenging materials and innovative technology solutions, the customers of both Gelest and Bimax will be benefitted with the broad product profile, better service infrastructure solutions and the enhanced technical expertise of the synergistic enterprise. Gayer also mentioned that like Gelest, Bimax also has a record of accomplishment of growth built upon its long-standing market presence focused on the development of products based on scientific and unique customer needs. Gayer also said that Bimax would fit well into Gelest’s corporate culture and philosophy of offering their customers’ technology and expect the collaboration with the management team at Bimax to be extremely fruitful.
Dr. Chris Sghibartz, Global Vice President, Bimax, has said that the two companies are analogous in terms of their focus on technology, growth, and end user. Andre Moura, Managing Director, New Mountain Capital has commented that the takeover of Bimax suggests substantial progress in New Mountain’s growth strategy for Gelest. The two businesses complement each other well, and the combination of the two will provide enhanced value to customers.