PE-backed Avantor hires new CFO

Avantor Performance Materials, a portfolio company of New Mountain Capital, has named Richard Gaynor as chief financial officer. Previously, Gaynor worked at GT Advanced Technologies where he also served as a CFO. Based in Center Valley, Penn., Avantor is a provider of high-performance chemistries.

PRESS RELEASE

CENTER VALLEY, PA–(Marketwired – Mar 7, 2014) – Avantor™ Performance Materials, a global manufacturer and supplier of high-performance chemistries, announces the appointment of Richard Gaynor as chief financial officer.
Gaynor brings 30 years of global finance experience to his new role at Avantor. Most recently, he served as CFO for GT Advanced Technologies, a global provider of polysilicon production technology and crystalline growth systems for the solar, LED and other specialty markets. Prior to joining GT, Gaynor served in various senior management positions with global, publicly traded technology and manufacturing companies, including Sonus Networks, Inc., Sycamore Networks, Inc., Manufacturers’ Services Ltd., Evans and Sutherland Computer Corporation and Cabletron Systems, Inc.
He holds a Bachelor of Science degree in Chemistry and Biology from the National University of Ireland and an MBA from Trinity College, Dublin, Ireland.
“I am delighted to welcome Richard as a key member of our executive team,” said Richard White, chief operating officer and interim CEO at Avantor. “Richard has a proven record of driving business growth and improving efficiency at multiple global enterprises.”
“We are fortunate to have Richard join the company,” says Raj Gupta, chairman of Avantor. “His industry knowledge and vast global finance experience will be essential in helping Avantor meet its aggressive growth objectives.”
“With respected brands and attractive markets, Avantor is well positioned to continue its current trajectory of growth,” said Matt Holt, managing director of New Mountain Capital, which owns Avantor. “Richard’s experience and impressive financial management skills will prove invaluable as we further establish Avantor’s position as a global leader in performance materials and chemistries.”
In his role as CFO, Gaynor will serve as Avantor’s global Finance leader. He will oversee global accounting, financial reporting, tax, financial compliance and information technology functions. He will be based at Avantor’s corporate headquarters in Center Valley, PA.
Visit www.avantormaterials.com or www.twitter.com/avantor_news for more information.
About Avantor™ Performance Materials
Based in Center Valley, PA (USA), Avantor Performance Materials manufactures and markets high-performance chemistries and materials around the world under several respected brand names, including the J.T.Baker®, Macron Fine Chemicals™, Rankem™, BeneSphera™, and POCH™ brands.
Avantor products are used in a wide range of industries. Our biomedical and life science solutions are used in pharmaceutical production, laboratory research for academic, industry and quality control, and in medical lab testing. Our electronics solutions are used in the manufacturing of semiconductors. For additional information please visit www.avantormaterials.com or follow www.twitter.com/avantor_news.
About New Mountain Capital
New Mountain Capital is a New York-based private equity firm that emphasizes business building and growth, rather than debt, as it pursues long-term capital appreciation. The firm currently manages private and public equity funds with approximately $12 billion in aggregate capital commitments. New Mountain seeks out what it believes to be the highest-quality growth leaders in carefully selected industry sectors and then works intensively with management to build the value of these companies. For more information on New Mountain Capital, please visit www.newmountaincapital.com.

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