Avantor, Nusil Technology Agree to Merge
Avantor Performance Materials, a Center Valley, Pennsylvania-based specialty and fine chemicals company, and NuSil Technology, a silicone chemistry company based in Carpinteria, California, have agreed to merge into an ultra-high-purity materials company for the life sciences and advanced technology markets. Avantor Performance Materials and NuSil are portfolio companies of the equity firm, New Mountain Capital.
The combined company, to be named Avantor, will provide performance materials and solutions for production and research needs across the biotechnology, pharmaceutical, medical device, diagnostics, aerospace and defense, and semi-conductor industries. The combination creates a portfolio of over 30,000 products, including Avantor Performance Matrials' biological buffers and reagents, excipients, and molecular biology reagents, solvents, and reagents as well as NuSil's medical-grade silicones.
The combined company will have sales of more than $700 million. The merger is subject to customary closing procedures and is expected to close in late September 2016.
Source: Avantor Performance Materials