FOR IMMEDIATE RELEASE
ST.LOUIS, MO– Accella Polyurethane Systems LLC (“Accella”) has completed the purchase of certain assets of the North American spray polyurethane foam (SPF) business located in Spring, TX, from Covestro LLC.
Andy Harris CEO and President remarked, “We are very pleased to announce the completion of this important acquisition.This brings together the best people, technology, service and support to provide the most extensive North American spray polyurethane foam (SPF) network whose main objective is to improve our customer’s performance and profitability with all the positive energy efficiency and environmental benefits of SPF. By combining our technologies and application expertise we are well-positioned to further help the industry establish spray polyurethane foam as the insulation of choice.”
Chris Brink, Accella’s VP of Polyurethane Systems, added “Spray polyurethane foam is one of the most exciting innovations in modern construction. We understand that our customers demand the best service, products, and brand support, and this acquisition dovetails perfectly with that drive to provide all three of those elements. Our focus has been on making this a seamless transition for our customers and vendors. There are no major changes to the organization, service or support our customers have come to rely upon. Accella now has the critical mass to provide industry leading support tools and new products for our channel partners, with a focus on industry growth.”
John Televantos, Partner at Arsenal Capital, said, “This acquisition further supports our strategy to build the leading independent polyurethane systems house with dedicated resources to advance the benefits of polyurethane technology across a wide variety of markets. We are committed to support the ongoing growth of Accella and invest in strategies that will further transform the business.”
Accella is a leading manufacturer of custom formulated polyurethane systems, and polyurethane based recycled rubber products formed from the strategic combination of Dash Multi-Corp, MarChem, Arnco, Pathway Polymers, Ultimate Systems, RB Rubber, IPS Polymer Systems, Zeus, Premium Spray Products, Coating & Foam Solutions, Burtin Polymer Labs and Quadrant Spray Foam. The polyurethane business is focused on foams, binders, coatings, adhesives, sealants and elastomers. The recycled rubber products business manufactures recycled tire crumb, custom colored EPDM granules, custom and rolled matting, equine matting, athletic flooring, playground safety surfacing and various custom molded products, all based on Accella polyurethane technology. The company manufactures in eight production facilities across the United States, one in Europe and one in China. To learn more about Accella Performance Materials go towww.accellacorp.com.
About Arsenal Capital Partners
Established in 2000, Arsenal Capital Partners is a leading New York based private equity firm that specializes in investments in middle market specialty industrials and healthcare companies. Since inception, Arsenal has raised institutional equity investment funds of approximately $3 billion. Arsenal invests in industry sectors in which the firm has significant prior knowledge and experience and seeks companies typically in the range of $100-500mm initial enterprise value. The firm works with management teams to build strategically important companies with leading market positions, high growth, and high value-add. For additional information on Arsenal Capital Partners, please visit www.arsenalcapital.com.