Gelest, Inc, a leading innovator in materials science and a New Mountain Capital portfolio company, announced today the acquisition of Bimax, a manufacturer and marketer of speciality monomers and polymers for use in the manufacture of contact lenses, intraocular lenses, personal care products, coatings and adhesives, 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.
“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.”
“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.