Arsenal Sells Accella Performance Materials
NEW YORK – Private equity firm Arsenal Capital Partners has signed a definitive agreement to sell Accella Performance Materials, a North American specialty polyurethane platform, to Carlisle Companies Inc. for $670 million.
Accella offers a broad range of polyurethane products and solutions across many markets and applications globally. The company, headquartered in Maryland Heights, Missouri, has annualized revenue of approximately $430 million and operates out of 10 manufacturing facilities and seven R&D laboratories in the United States, 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.”
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. We have been very pleased with our partnership with Andy Harris and the management team that helped us to transform and rapidly scale Accella. Accella is well-positioned to continue to grow under Carlisle’s ownership.”
The transaction is subject to customary closing conditions and regulatory approvals, and is expected to be completed in the fourth quarter of 2017.