Global Materials LLC to acquire Specialty Materials Inc.
Specialty Materials Inc. (SMI, Lowell, Mass., U.S.) has announced an agreement to sell the business to Global Materials LLC (Lowell). Both are privately-held companies.
Following the acquisition, Global Materials will continue to deliver SMI’s advanced fibers and materials products through its 35 employees to existing customers, while exploring new and additional markets. SMI’s president, Monte Treasure, will remain in his current role through 2020 to ensure a smooth transition and will report to Monica Rommel, CEO for Global Materials, at the close of sale. The acquisition is expected to close by December 2019.
“After leading the way in boron and silicon carbide fibers manufacturing and distribution for more than 35 years, we recognized new opportunities due to the unique combination of properties to expand their application into satellite and hypersonic vehicles,” says Monte Treasure, president of Specialty Materials Inc. “We’ve worked closely with Monica Rommel, Global Materials’ CEO, for many years. She is an exceptional leader with a remarkable vision for the future. I couldn’t be more enthusiastic about her ability to take our teams’ successes to the next level.”