Kymera expands its specialty coatings business with acquisition of Thermal Spray Solutions
May 5, 2023
Kymera International, a speciality materials company headquartered in Raleigh, North Carolina, USA, has closed the transaction to acquire all assets of Thermal Spray Solutions, Inc. (TSS), Chesapeake, Virginia. This sale is said to align with Kymera’s strategic goal of growing its specialty coatings business segment.
TSS is a leading provider of high-performance thermal spray coatings for corrosion and wear resistance. Its clients include the US Navy, the shipbuilding sector, and large industrial customers throughout the United States.
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“The team at TSS has developed unique material and process solutions that extend the life of metal substrates and provides non-slip surfaces to areas such as naval aircraft carrier decks. These technologies, along with Kymera’s in-house developed materials, will allow us to expand our product offerings in the US and use Kymera’s footprint to drive growth globally,” stated Barton White, Kymera CEO. “Notably, we are particularly excited how this investment will augment our growing offerings to support the US Navy.”
Adam Shebitz, a partner at private equity LP Palladium, added, “Kymera continues to execute on its M&A playbook, now closing its seventh acquisition under Palladium’s ownership. The addition of TSS is right on strategy as it accelerates Kymera’s expansion into high-growth surface technologies and value-added specialty materials.”
Chris Nichols, VP Sales & Marketing and co-founder of TSS, stated, “Thermal Spray Solutions is excited to become a part of Kymera’s Surface Technologies Group. Kymera’s focus on coatings applications and new product development will put TSS in a significantly stronger position to support the rapidly growing opportunities within our existing DoD and commercial customer base.”
The terms of the transaction were not disclosed.