Kymera International (Durham, North Carolina, USA), a global specialty materials company, announced it has closed its transaction with Thermal Spray Solutions, Inc. (TSS) (Chesapeake, Virginia, USA), acquiring substantially all of their assets. TSS is a provider of high-performance thermal coatings for corrosion and wear resistance to the U.S. Navy, the shipbuilding sector, and key industrial customers throughout the United States.
Terms of the transaction were not disclosed.
“The sale of TSS to Kymera aligns with our strategic goal of growing our specialty coatings business segment,” says Barton White, Kymera CEO. “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 U.S. and use Kymera’s footprint to drive growth globally.”
“Notably, we are particularly excited how this investment will augment our growing offerings to support the U.S. Navy,” adds White.
“Kymera continues to execute on its M&A playbook, now closing its seventh acquisition under Palladium’s ownership,” says Adam Shebitz, a partner at Palladium Equity Partners, LLC. “The addition of TSS is right on strategy as it accelerates Kymera’s expansion into high-growth surface technologies and value-added specialty materials.”
“Thermal Spray Solutions is excited to become a part of Kymera’s Surface Technologies Group,” says Chris Nichols, VP sales and marketing and co-founder of TSS. “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.”
Source: Kymera International, www.kymerainternational.com.