Kymera International, a speciality materials company headquartered in Research Triangle Park, North Carolina, USA, has acquired CASL Surface Technologies Corp (CASL), headquartered in Alberta, Canada, a manufacturer of wear-resistant metallic and ceramic alloy coatings.
CASL develops and commercialises metallic coating process, alloy and capital equipment intellectual property purposed towards mitigating the impact of extreme wear on mission-critical industrial components. The company has two manufacturing facilities in Alberta and a production site in Houston, Texas. The acquisition is expected to enhance Kymera’s coatings and surface technologies product offerings.
“CASL’s leadership team has built a tremendous company of talented people with industry-leading knowledge in thermal spray applications. This acquisition will allow us to accelerate our coatings initiatives both organically and through M&A,” stated Barton White, CEO of Kymera. “Combining the unique wear-resistant speciality materials Kymera has organically developed in-house, with the innovative alloys and application expertise of CASL, will give our customers end-to-end performance and value.”
Scott McLaughlan, president & CEO of CASL, commented, “CASL is thrilled to join the Kymera family where we expect the combination of our highly successful materials science-oriented teams, coupled with Kymera’s new product development focus and its global reach, will unlock the potential in CASL IP and generate extraordinary results.”
Adam Shebitz, a partner at Palladium, added, “The acquisition of CASL, Kymera’s sixth under Palladium’s ownership, is aligned with the company’s value creation plan to become a leading speciality materials manufacturer and solutions provider. CASL’s offering compliments the investments Kymera has made in its organic new product development capabilities, and unlocks exciting new growth opportunities.”
The terms of the transaction were not disclosed. www.kymerainternational.com