Center Valley, Pa. — Avantor Performance Materials Inc. and NuSil Technology LLC have successfully merged.
Both companies are owned by New Mountain Capital. The private equity firm remains the majority owner post merger. Terms of the transaction were not disclosed. Michael Stubbefield, Avantor's CEO since 2014, will serve as the CEO of the combined entity, which is to be named Avantor.
“Avantor and NuSil are leaders in their industries, known for working side-by-side with customers to innovate high-quality products and materials that meet their most stringent requirements,” Stubblefield said in a statement. “I look forward to working with our global team to build on this longstanding commitment, while realizing the significant growth opportunities that this merger offers for Avantor.”
According to an Oct. 3 news release, the combined company becomes a global leader in ultra high-purity materials for the life sciences and advanced technology markets with a portfolio of more than 30,000 products. Avantor's combined revenue is now more than $700 million and, according to the firm, growing at 14 percent per year.