Element Solutions Inc , a specialty chemical technology company, announced that it has signed a definitive agreement to acquire Micromax from Celanese Corporation for approximately $500 million in cash, subject to adjustments.
The transaction is expected to close in the first quarter of 2026, subject to certain regulatory approvals and customary closing conditions. Upon the closing of the transaction, Micromax will become a part of ESI’s MacDermid Alpha Electronics Solutions business and will be reported within the Company’s Electronics segment.
Micromax® is a leading global supplier of advanced electronics inks and pastes designed for high performance electronics and known for durability, flexibility, and performance in harsh environments. The portfolio includes conductive, resistive, and dielectric thick film inks, as well as Low-Temperature Co-fired Ceramic (LTCC) materials for creating multilayer circuits. Micromax provides critical solutions to customers across a diverse range of industries, including specialized end-markets such as aerospace, defense and healthcare. The business has a materials innovation platform for emerging growth applications, such as health wearables, low earth orbit satellites, electric vehicles, and data centers.
Element Solutions’ Chief Executive Officer Benjamin Gliklich said, “Micromax is a great fit, enhancing our Electronics business’ customer value proposition and the breadth of high-value solutions we can offer to our supply chain. While operating in different segments than our MacDermid Alpha Electronics Solutions Business, Micromax is similar in that it is a leader in its focus areas which are also reliant on products co-developed with customers and that require high levels of applications expertise. Its product portfolio aligns with our core competencies in formulations capability and metals expertise with a high-touch, low capital intensity operating model. Equally importantly, the business brings a proven team of experienced, highly technical leaders in adjacent electronics materials segments. Following this transaction, our Electronics segment will boast one of the broadest product portfolios across the electronics supply chain with sales of approximately $2 billion.”
Mr. Gliklich continued, “Micromax’s portfolio aligns with our vision of offering the best products and solutions in our end markets and delivering exceptional value for our shareholders. The transaction meets our robust acquisition criteria and is consistent with our acquisition strategy of investing in areas we understand and growth businesses that we believe will thrive under our ownership. We are excited to welcome the Micromax team into the Element Solutions family and capitalize on the unique value opportunities associated with this transaction.”
