Kymera, a specialty materials company, has acquired Reading Alloys, a provider of master alloys, thermal barrier coatings and titanium powders. No financial terms were disclosed. Kymera is backed by Palladium Equity Partners.
PRESS RELEASE
RESEARCH TRIANGLE PARK, N.C., March 25, 2020 /PRNewswire/ — Kymera International (“Kymera”), a leading specialty materials company that manufactures powders, pastes and granules of primary and alloyed aluminum, copper, tin and zinc, as well as many other niche products, announced today that it has closed its transaction with Ametek Inc., acquiring 100% of the shares of Reading Alloys.
Founded in 1953, Reading Alloys designs, develops and produces master alloys, thermal barrier coatings and titanium powders. The business is a preferred supplier for producers of high-quality titanium and super alloy mill products that are used in aerospace and aircraft applications.
“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,” said 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, defense, medical and industrial markets.”
Kymera has been owned by affiliates of Palladium Equity Partners, LLC (collectively, “Palladium”), a middle market private equity firm with approximately $3 billion in assets under management, since 2018.
“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,” said 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.”
The terms of the transaction were not disclosed.
About Palladium Equity Partners, LLC
Palladium is a middle market private equity firm with approximately $3 billion of assets under management. The firm seeks to acquire and grow companies in partnership with founders and experienced management teams by providing capital, strategic guidance and operational oversight. Since its founding in 1997, Palladium has invested over $2 billion of capital in 35 platform investments and more than 135 add-on acquisitions. The firm focuses primarily on buyout equity investments in the range of $50 million to $150 million. The principals of the firm have significant experience in consumer, services, industrials, and healthcare businesses, with a special focus on companies they believe will benefit from the growth in the U.S. Hispanic population. Palladium is based in New York City. For more information, visit www.palladiumequity.com.
About Kymera International
Kymera International can trace its roots back to the 1800’s and today is a market leading specialty materials company focused on non-ferrous powders, granules, and pastes including aluminum, copper, tin and their alloys. Kymera sells its technically developed products into a wide variety of end markets, including aerospace, additive manufacturing, chemical, specialty auto and numerous industrial applications. Kymera International has manufacturing facilities in the U.S., Australia, Europe, and Asia.
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