|FOR IMMEDIATE RELEASE||
Accella Performance Materials
+1 314 432 3200
St. Louis, MO – February 27, 2015 – Accella Performance Materials, Inc., (“Accella”, rebranded from Dash Multi-Corp, Inc.) a leading manufacturer of polyurethane systems and recycled rubber products, today announced the acquisition of IPS Polymer Systems, Inc. (“IPS”) in Rancho Cucamonga, CA. Accella is backed by Arsenal Capital Partners (“Arsenal Capital”).
The acquisition further supports Accella’s strategy to build the leading polyurethane systems house in North America, with an even stronger presence on the West Coast. The combination brings together an expansive polyurethane technology portfolio, convenient regional manufacturing, and leading technical application expertise, supported by an expanding national sales channel when combined with MarChem Polyurethane Systems, Arnco, and Pathway Polymers.
Accella’s CEO, Andy Harris, said, “IPS and Accella have over 40 years of experience with polyurethane technology and proprietary formulations. IPS is an excellent fit with Accella’s current polyurethanes business and will bring expanded technology and capabilities to both companies. The acquisition of IPS is strategic in our objective to build the leading independent polyurethane systems house in North America to bring the greatest value and offerings to our customers.”
Andy Harris added “We do not expect any disruption to current customers in either company and will continue to focus on high value technology, exceptional customer service, and product quality to provide our customers even greater value.”
John Televantos, Partner at Arsenal Capital and long-time polyurethanes industry veteran, said, “We are very pleased to bring IPS Polymer Systems into the Accella group, and with the progress of Accella overall. IPS strengthens the Accella polyurethanes platform and will enhance the value Accella brings to market. We are committed to support the ongoing growth of Accella and will continue to invest in strategic opportunities that will further transform the business.”
Roy Seroussi, a Principal at Arsenal Capital said, “IPS has a long history of proven products, innovation, and a positive reputation that fit very well with Accella’s history and culture. This will help support our customers’ growth and competitiveness, as we further expand the Accella polyurethane systems business.”
Ezzat Seif, the founder and former CEO of IPS Polymer Systems, will stay with the business and continue on the leadership team, and said, “We are delighted to be a part of the Accella team and are excited to expand the value we provide to a broader customer base. We selected Accella as a good cultural fit and to bring greater opportunities to our valued employees and customers.”
About Accella Performance Materials
Rebranded from Dash Multi-Corp which was founded in 1973 in St. Louis, MO, Accella is a leading manufacturer of custom formulated polyurethane systems and recycled rubber products. The polyurethane business is focused on custom formulations for spray, pour and cast applications involving coatings, adhesives, sealants, and elastomers. The recycled rubber products business manufactures recycled tire crumb, custom colored EPDM granules, equine matting, athletic flooring, playground surfacing, and custom molded products. The polyurethane and rubber products businesses are strategically integrated as the leading provider of complete solutions for a wide variety of surface and tire fill applications. The company manufactures in nine production facilities across the United States, one in the Germany, one in the UK, and one in China. To learn more about Accella Performance Materials go to www.accellacorp.com.
About Arsenal Capital Partners
Formed in 2000, Arsenal Capital Partners is a leading New York-headquartered private equity firm that invests in middle-market specialty industrial and healthcare companies. Arsenal makes investments in sectors where the firm has significant prior knowledge and experience. The firm targets businesses that have the potential for further value creation by working closely with management to accelerate growth and leverage the firm’s operational improvement capabilities. Arsenal currently has $1.7 billion of committed equity capital. For additional information on Arsenal Capital Partners, please visit www.arsenalcapital.com.