|FOR IMMEDIATE RELEASE||
Chris Tofalli Public Relations, LLC
+1 914 834 4334
St. Louis, MO - Dec 1, 2014 – Accella Performance Materials, Inc. (Accella), a leading manufacturer of polyurethane systems and recycled rubber products, has announced the sale of specialty assets to PolyOne Corporation (NYSE: POL). The divested assets are not related to Accella’s polyurethanes and recycled rubber business, and are a strong fit with PolyOne’s Global Color, Additives and Inks segment. Accella was acquired in 2012 by Arsenal Capital Partners (Arsenal), a leading New York-based private equity firm that invests in middle-market specialty industrial and healthcare companies.
“We are very pleased to see the strong fit these assets have with PolyOne, which we expect will bring greater value to PolyOne’s existing and new customers with the integration of Accella’s people, technology, innovation and service. The sale allows Accella to further sharpen our focus on polyurethane systems and recycled rubber products, which are strategically related as complete “system” solutions for many of our target markets,” said Accella’s CEO, Andy Harris.
John Televantos, a Partner at Arsenal Capital Partners and co-head of the firm’s Specialty Industrials Group, said, “This transaction offers the opportunity for great value to investors and customers alike for both PolyOne and Accella, combining the best of each organization in specialized areas to further enhance PolyOne’s offering, while strengthening Accella’s position to further grow in its target markets.”
Roy Seroussi, a Principal at Arsenal Capital Partners, added, “We are very pleased with this outcome. It’s always good to see our investments move on to expanded opportunities and potential for further “invest-to-grow” value with leading organizations like PolyOne.”
The Valence Group acted as financial advisor and DLA Piper LLP acted as legal advisor to Accella.
About Accella Performance Materials
Accella is a leading manufacturer and value-added service provider of custom formulated polyurethane systems and recycled rubber products. The polyurethane business delivers higher value solutions with sport surfaces, tire fill, specialty foams, binders, sealants and elastomers. The rubber products business is vertically integrated with recycled rubber and polyurethane systems to provide the most cost effective and durable products for equine matting, sports flooring, playground surfacing and custom molded products. Accella is headquartered in St. Louis, MO and manufactures in nine production facilities across the United States, one in the UK, one in Germany and one in China.
To learn more about Accella Performance Materials go to www.accellacorp.com