Research Triangle Park, NC, May 8, 2023 – Kymera International (“Kymera”), a global leading specialty materials company, announced today that it has closed its transaction with Thermal Spray Solutions, Inc. (“TSS”), acquiring substantially all their assets. Headquartered in Chesapeake, Virginia, TSS is a leading provider of high-performance thermal spray coatings for corrosion and wear resistance to the U.S. Navy, the shipbuilding sector, and key industrial customers throughout the United States.
“The sale of TSS to Kymera aligns with our strategic goal of growing our specialty coatings business segment. The team at TSS has developed unique material and process solutions that extend the life of metal substrates and provides non-slip surfaces to areas such as naval aircraft carrier decks. These technologies, along with Kymera’s in-house developed materials, will allow us to expand our product offerings in the U.S. and use Kymera’s footprint to drive growth globally,” commented Barton White, Kymera CEO. “Notably, we are particularly excited how this investment will augment our growing offerings to support the U.S. Navy.”
“Kymera continues to execute on its M&A playbook, now closing its seventh acquisition under Palladium’s ownership,” said Adam Shebitz, a Partner at Palladium. “The addition of TSS is right on strategy as it accelerates Kymera’s expansion into high-growth surface technologies and value-added specialty materials.”
“Thermal Spray Solutions is excited to become a part of Kymera’s Surface Technologies Group. Kymera’s focus on coatings applications and new product development will put TSS in a significantly stronger position to support the rapidly growing opportunities within our existing DoD and commercial customer base,” said Chris Nichols, VP Sales & Marketing and Co-founder of TSS.
The terms of the transaction were not disclosed.
