Element Solutions Inc. Completes Strategic Acquisition of Micromax, Strengthening Electronics Portfolio
Element Solutions, a global specialty chemical technology company with a diversified portfolio serving a wide range of industrial end markets, announced today that it has successfully completed its previously disclosed acquisition of Micromax. The transaction marks a significant strategic milestone for Element Solutions as it continues to expand and strengthen its Electronics segment, one of the Company’s core growth platforms.
The acquisition brings Micromax—an established provider of high-performance materials and solutions—into the Element Solutions family, adding complementary technologies, deep technical expertise, and a strong customer footprint. The combination is expected to enhance Element Solutions’ ability to deliver differentiated, value-added solutions to customers operating in increasingly complex and demanding electronics manufacturing environments.
Strategic Rationale and Portfolio Expansion
Element Solutions has long focused on building a leading portfolio of specialty chemical technologies that enable innovation, performance, and reliability across mission-critical applications. The acquisition of Micromax aligns closely with this strategy, particularly within the Company’s Electronics business, which serves customers in advanced packaging, semiconductor fabrication, printed circuit boards, and related applications.
Micromax’s product offerings and technical capabilities complement Element Solutions’ existing solutions, creating opportunities for deeper customer engagement and broader solution sets. As electronics manufacturing continues to evolve—driven by trends such as miniaturization, higher performance requirements, and increased complexity—customers are seeking partners that can provide not only high-quality products, but also process expertise and technical support. Element Solutions believes the addition of Micromax enhances its ability to meet these needs at scale.
Chief Executive Officer Benjamin Gliklich commented on the completion of the transaction, emphasizing both the strategic fit and the growth profile of the acquired business. “We are excited to welcome Micromax and its outstanding team to Element Solutions,” Gliklich said. “While we are coming off a record year, Micromax is also inflecting positively with high-single digit organic revenue growth in 2025. We are looking forward to supporting its further success as part of our industry-leading Electronics portfolio.”
Growth Momentum and Market Opportunity
Micromax enters Element Solutions at a time of positive operational momentum. The business is experiencing improving growth trends, with high-single digit organic revenue growth anticipated in 2025. This growth reflects increasing demand for advanced materials solutions, as well as Micromax’s strong positioning within its served markets.
The electronics industry continues to benefit from long-term secular drivers, including the proliferation of connected devices, growth in data centers, advances in artificial intelligence, and increasing electrification across industries. These trends are placing greater performance demands on electronic components and manufacturing processes, reinforcing the need for sophisticated specialty chemical solutions.
By integrating Micromax into its Electronics segment, Element Solutions aims to leverage its global scale, customer relationships, and operational infrastructure to further accelerate growth. The Company expects to support Micromax through investment in innovation, expanded market access, and integration into Element Solutions’ global commercial and technical networks.
Integration and People-First Approach
A key component of the transaction is the integration of Micromax’s employees and leadership team into Element Solutions’ broader organization. Element Solutions has emphasized the importance of talent, culture, and technical expertise in driving long-term success, particularly in highly specialized markets such as electronics.
Micromax’s team brings deep domain knowledge and strong customer relationships that are expected to be critical to maintaining continuity and unlocking future growth opportunities. Element Solutions has stated that it intends to preserve the strengths of the Micromax organization while providing additional resources and support to help the business reach its full potential.
The Company’s leadership believes that a thoughtful integration approach—focused on collaboration, shared best practices, and alignment around customer needs—will enable Micromax to thrive within Element Solutions while contributing meaningfully to the broader organization.
Transaction Financing and Balance Sheet Strategy
The acquisition of Micromax was financed through a $450 million add-on to Element Solutions’ existing senior secured term loan B due 2030. The financing closed concurrently with the completion of the acquisition, providing the Company with the necessary capital to fund the transaction efficiently.
In connection with the financing, Element Solutions also entered into a new five-year $500 million revolving credit facility. This new facility upsized the Company’s prior revolving credit facility by $125 million and extended its maturity to 2031. The enhanced revolving credit facility is expected to provide additional financial flexibility to support ongoing operations, potential future investments, and general corporate purposes.
Element Solutions’ approach to financing reflects its commitment to maintaining a disciplined capital structure while pursuing strategic growth opportunities. Management has consistently emphasized balancing investment in growth with prudent leverage levels and strong liquidity, positioning the Company to navigate market cycles and capitalize on attractive opportunities as they arise.
Building on a Record Year
The completion of the Micromax acquisition follows a period of strong performance for Element Solutions. The Company recently reported a record year, underscoring the resilience of its business model and the effectiveness of its strategic focus. Against this backdrop, the addition of Micromax represents not only an expansion of the Company’s capabilities, but also a continuation of its momentum.
Element Solutions operates across multiple end markets and geographies, providing a level of diversification that helps mitigate volatility and support consistent performance. Within this framework, the Electronics segment has emerged as a key growth engine, benefiting from favorable long-term industry dynamics and ongoing innovation.
Management views the Micromax acquisition as a natural extension of its strategy to build leading positions in attractive specialty chemical markets through a combination of organic growth and targeted acquisitions.
Element Solutions expects the acquisition of Micromax to contribute positively to its growth profile and strategic positioning. While near-term priorities will include integration and alignment, the Company is focused on realizing long-term value through expanded capabilities, enhanced customer solutions, and continued innovation.
The Company remains committed to investing in research and development, operational excellence, and customer partnerships across its portfolio. By combining Micromax’s strengths with Element Solutions’ global reach and resources, management believes the Company is well positioned to address evolving customer needs and capture opportunities in high-growth electronics markets.
As Element Solutions continues to execute on its strategy, the successful completion of the Micromax acquisition underscores its commitment to disciplined growth, portfolio enhancement, and long-term value creation for customers, employees, and shareholders alike.
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