DLA Piper Advises Accella in Specialty Assets Sale to PolyOne
Accella Performance Materials announced the sale of specialty assets to PolyOne Corporation. 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 artner 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.”
The Valence Group acted as financial advisor and DLA Piper acted as legal advisor to Accella.
Accella is a manufacturer and value-added service provider of custom formulated polyurethane systems and recycled rubber products.