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October 02, 2017 12:00 AM

Arsenal Announces Sale of Accella Performance Materials to Carlisle

Simon Robinson
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    New York — Arsenal Capital Partners  has signed a definitive agreement to sell US specialty polyurethanes company Accella Performance Materials to Carlisle for $670 m.

    Accella is headquartered in Maryland Heights, Missouri, has sales of around $430 m and operates 10  facilities and seven R&D laboratories in the US, Germany, and China.

    Roy Seroussi, a Principal at Arsenal, said, 'Since our initial investment in 2012, Accella’s revenue and EBITDA increased by 7x and 8x, respectively, through a focused organic growth strategy and nine strategic acquisitions. The company has become a market leader in several rapidly growing end markets, such as spray foam insulation, as well as roofing solutions and polyurethane truck bed liners.'

    Televantos: building portfolios

    John Televantos, a Partner at Arsenal, added, 'Arsenal’s investment in Accella stemmed from our extensive experience in the polyurethane sector and focus on formulated materials that provide enhanced performance. Accella is well-positioned to continue to grow under Carlisle’s ownership.'

    Andy Harris, Accella’s President and CEO, commented, 'Carlisle’s focus on culture, technology, markets and value creation are highly complementary with Accella and provide significant opportunities for our customers. I would like to thank Arsenal for its strong support of Accella’s growth and development over the past five years.'

    The growth of Accella first came to attention when it purchased IPS polymer systems in March 2015 changed its name from MultiDash Corp in May 2014, and rationalised its portfolio. Then is parent Arsenal Capital purchased three PU firm in two days in September 2015. In March 2016 Quadrant's spray foam business was added to the firm. In June 2016, Bullet Liner joined the portfolio. In March 2017, Accella gained Covestro's US spray foam business.

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