Speciality materials company Kymera International, Raleigh, North Carolina, USA, has closed its transaction with with Ametek, Inc., Berwyn, Pennsylvania, USA, and has now acquired 100% of the shares of the Reading Alloys business.
Founded in 1953, and acquired by Ametek in 2008, Reading Alloys designs, develops and produces master alloys, thermal barrier coatings and titanium powders. The business is a supplier for producers of high-quality titanium and super alloy mill products that are used in aerospace and aircraft applications.
Kymera has been owned by affiliates of Palladium Equity Partners, LLC, New York, New York, USA, (Palladium), a middle-market private equity firm with approximately $3 billion in assets under management, since 2018. The terms of the transaction were not disclosed.
“Reading Alloys is an outstanding company with highly skilled people and an excellent product and end market portfolio that fits in perfectly with our existing business,” stated Barton White, CEO of Kymera. “For Kymera, we believe this is a transformative acquisition that will give our combined company strong technical and commercial resources to help fuel our growth in the aerospace, defence, medical and industrial markets.”
“The acquisition of Reading Alloys, Kymera’s third to date under Palladium’s ownership, is right on strategy as the Kymera management team continues to build the company into a leading specialty materials producer,” commented Adam Shebitz, a Partner at Palladium.
“Kymera represents another great example of Palladium’s value creation framework, which pulls on both organic and M&A driven levers. We are excited about this opportunity to enhance the Kymera platform with Reading’s value-added products, growing end markets and its talented employees.”