Denver, CO (July 1, 2016) - Headwaters MB advised Adesis, Inc. (“Adesis”), a leading contract research organization (CRO) specializing in organic and organometallic synthetic research, development, and commercialization, on its sale to Universal Display Corporation (Nasdaq: OLED). Adesis is a critical technology vendor to companies in the pharmaceutical, fine chemical, biomaterials, and catalyst industries, and has worked with Universal Display over the last few years to help advance and accelerate a number of Universal Display’s product offerings.
“We are very excited to become part of UDC and build additional synergies between both companies, and further enhance the growth of UDC’s OLED leadership,” said Andrew Cottone, President of Adesis, Inc. “In addition, we anticipate that Adesis will benefit from UDC’s financial and business acumen to better support our clients with world-class technology and expertise, and reinforce our positioning for continued growth as a specialty chemical CRO.”
Phil Seefried, Headwaters’ CEO, added “Adesis is a tremendous story of entrepreneurial success, having established a reputation for excellence as a value-added chemistry partner across multiple end markets. Adesis has an impressive culture of high quality customer service and teamwork from top to bottom. It was an honor to represent them.”
Under the terms of the agreement, Universal Display will acquire all outstanding shares of Adesis, Inc. in a merger for approximately $36 million in cash. The transaction is expected to close in the third quarter of 2016, subject to customary closing conditions. Following the closing, Adesis will operate as a wholly-owned subsidiary of Universal Display Corporation.
About Headwaters MB
Headwaters MB is an independent, middle market investment banking firm providing strategic merger and acquisition advice, capital raising and special situations advisory. Named "Investment Bank of the Year" by major organizations for its third consecutive year, Headwaters MB is headquartered in Denver, CO with seven regional offices across the United States and partnerships with 18 firms covering 30 countries. For more information, visit www.headwatersmb.com.
About Adesis, Inc.
Headquartered in New Castle, DE, Adesis, Inc. is a contract research organization (CRO) supporting the OLED, pharma, biotech, catalysis and a number of other industries. The CRO specializes in organic and organometallic synthesis, in milligrams to multi-kilogram quantities. Adesis has a business model of providing clients with organic chemistry services in three areas: early stage research, scale up and development, and specialty manufacturing. With over 20 years of success and currently over 40 chemists with extensive industry and professional experience, Adesis supports companies in various industries with small molecule organic chemistry expertise. Adesis provides a range of services that can supplement research and development efforts. It can also act as a specialty manufacturer to reinforce supply chains. To learn more about Adesis, please visit www.adesisinc.com.
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