New York-based private investment New Mountain Capital has acquired Ascensus Specialties from its previous majority owner, Wind Point Partners. Terms were not disclosed. Wind Point will continue to invest in the company through a special purpose vehicle raised in association with the transaction.

Ascensus has completed the acquisition of Strem Chemicals, bringing together two major suppliers of catalogue chemicals, mainly for life science, microelectronic and other speciality applications. Strem CEO Ephraim Honig will become chief science and innovation officer and will oversee the combined businesses’ R&D function.