An affiliate of New Mountain Capital, LLC has recently entered into a definitive agreement to acquire Mallinckrodt Baker, Inc. (MBI) from Covidien. MBI is a leading global manufacturer and supplier of high purity chemicals used in the laboratory, pharmaceutical, and microelectronics industries. Its product line consists of over 12,000 products sold to research and development laboratories and manufacturers of pharmaceuticals, semiconductor chips, solar cells, and flat panel displays.

New Mountain identified MBI through a proactive focus on the specialty chemicals and materials space. New Mountain is providing MBI with significant financial and strategic resources to support future growth initiatives, which include expansion of its activities in current end markets as well as acquisitions.

“For over a year, New Mountain has been working closely with Raj Gupta and other industry executives to find a new platform to build into a leader in high-growth, high value-added niches of the specialty chemicals and materials industries,” said Steve Klinsky, Founder and CEO of New Mountain. “As CEO of Rohm and Haas, Mr. Gupta helped build that company to $19 billion of enterprise value, and we look forward to working with him and MBI’s managers to build the company.”

"After the sale of Rohm and Haas, I chose to join New Mountain over a year ago because of NMC’s unique track record of building great businesses and employing sound capital structures,” added Mr. Gupta, Senior Advisor at New Mountain Capital. “With New Mountain as its partner, MBI can be positioned as a leading global player in the pharmaceutical, laboratory, and electronic segments of the specialty chemicals and materials industry. We look forward to supporting an accelerated growth plan that builds upon the current strengths of the company.”

Headquartered in Phillipsburg, NJ, MBI is a manufacturer of high purity chemicals and related products and services sold under two well-known and respected brand names - J.T.Baker and Mallinckrodt Laboratory Chemicals. These products are widely used in research and quality control laboratories, microelectronics, environmental testing laboratories, universities, and for manufacturing in the pharmaceutical, biotechnology, and other industrial markets.