Carlisle Companies Buys Accella Performance Materials
Carlisle Companies Inc. plans to purchase Accella Performance Materials for $670 million from private equity firm Arsenal Capital Partners.
The companies have entered into a definitive purchase agreement, and the deal is expected to close in the fourth quarter of 2017.
Arsenal initially invested in the company in 2012, and since that time, Roy Seroussi, a principal at Arsenal, says, "Accella’s revenue and EBITDA increased by 7-times and 8-times, 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.”
Accella Tire Fill Systems is part of Accella Performance Materials.
Andy Harris, the CEO and president of Accella, says, “We look forward to joining the Carlisle family of companies. 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.”
Accella, with headquarters in Maryland Heights, Mo., has annualized revenue of about $430 million.
D. Christian “Chris” Koch, CEO and president of Carlisle, says, “The acquisition of Accella Performance Materials is part of our well-established strategy of providing customers with high quality, innovative solutions for building envelope applications."
Carlisle says upon completion fo the deal, the Accella business will be reported as part of the Carlisle Construction Materials operating segment.