On July 1, 2019, local time in the United States, Gelest Silicone announced the acquisition of Bimax.
Gelest CEO Ken Gayer said: The acquisition of Bimax is an important step in Gelest's strategic plan. Bimax strengthened the company's position in high-growth, high-value-added applications, provided opportunities for new customers and talents, and also expanded our production capabilities and R & D channels. Bimax, like Gelest, has maintained long-term growth in the development of products based on the special needs of customers. Bimax is in line with Gelest's corporate culture and the concept of promoting customer technology, and looks forward to moving forward with Bimax's management team.
Johor Bahru President Andre Mura said the acquisition was an important part of his investment company New Hill Capital's Gelest investment plan and represented significant progress in Johor Bahru's Gelest growth plan. He believes that the two companies are highly complementary, and the merger of the two companies will provide higher value to customers. Johor Bahru said it looks forward to further investment in Gelest in the future.
Gelest Silicone Corporation: Headquartered in Morrisville, Pennsylvania, is a company that specializes in the research, development, production and sale of silicones, silane coupling agents and metal organic compounds. Its products are mainly used in medical devices, life sciences, microelectronics, personal care and Other high-tech and other advanced technology end markets. The company develops and supplies chemicals to help customers solve material science problems, and ultimately enables customers to implement new product technologies.
Bimax: Founded in 1987 and headquartered in Glen Rock, Pennsylvania. It is a company specializing in the development and sales of monomers and surfactants. Its products are mainly used in contact lenses, intraocular lenses, personal care products, coatings and adhesives, and other advanced technology applications.
Johor Bahru: A New York-based investment company, a company that focuses on business rather than debt construction and growth, and pursues long-term capital appreciation. The company currently manages private equity, public equity and credit funds, with assets under management of more than $ 20 billion. Founded in 2000, Johor Bahru has been working in the professional materials industry since 2008. In May 2017, Johor Bahru acquired Gelest.