Boston, MA - 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.
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.