Kymera International Acquires Thermal Spray Solutions, Inc.

-- Thermal Spray Solutions Adds Strategic Defense Focused Capabilities to Kymera's Surface Technologies Product Range --

RESEARCH TRIANGLE PARK, N.C., May 8, 2023 /PRNewswire/ -- 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.

About Kymera International
Kymera International, through acquisitions, can trace its roots back to the 1800's. Today, Kymera International is a U.S. owned leading, global developer and manufacturer of advanced specialty materials and high-performance surface coatings. Kymera sells its technically developed products into a wide variety of end markets, including aerospace, defense, medical, electronics, chemical, specialty auto, additive manufacturing, and numerous industrial applications. Kymera International has manufacturing facilities in the U.S., Australia, Europe, and Asia. www.kymerainternational.com

About Thermal Spray Solutions
Thermal Spray Solutions is a full-service thermal spray facility specialized in rotating equipment solutions and on-site metal coating application.  The facility, headquartered in Chesapeake, VA, boasts one of the largest thermal spray booths in the Eastern USA and is the leading supplier of Thermal Spray Nonskid coatings for US Navy flight decks.

About Palladium Equity Partners, LLC
Since its founding in 1997, Palladium has invested in more than 200 companies (38 platforms and more than 165 add-ons). With over $3 billion in AUM, the firm focuses primarily on buyout equity investments in the range of $50 million to $150 million.  Palladium seeks to acquire and grow companies in partnership with founders and experienced management teams by providing capital and strategic guidance.  The partners of the firm have meaningful experience in consumer, services, industrials, and healthcare businesses, with a special focus on companies they believe will benefit from the growth in the U.S. Hispanic population. For more information, visit www.palladiumequity.com.

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SOURCE Kymera International