WATERBURY, CT – Element Solutions, the parent company of MacDermid Alpha Electronics, on Oct. 28 announced a definitive agreement with Celanese to acquire its Micromax subsidiary for approximately $500 million in cash, subject to adjustments.

The transaction is expected to close in the first quarter 2026, subject to regulatory approvals and customary closing conditions.

The acquired unit will be integrated into Element’s electronics segment and will boost sales to approximately $2 billion.

Micromax is a supplier of electronics inks and pastes for electronics. Its portfolio includes conductive, resistive and dielectric thick-film inks, as well as low-temperature co-fired ceramic (LTCC) materials for creating multilayer circuits. It serves end-markets such as aerospace, defense and healthcare.

“Micromax is a great fit for Element Solutions, enhancing our Electronics business’ customer value proposition and the breadth of high-value solutions we can offer to our supply chain,” said Benjamin Gliklich, chief executive, Element Solutions. “While operating in different segments than MacDermid Alpha Electronics, Micromax is similar in that it is a leader in its focus areas which are also reliant on products codeveloped with customers and that require high levels of applications expertise. Its product portfolio aligns with our core competencies in formulations capability and metals expertise with a high-touch, low capital intensity operating model.

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