Accella Polyurethane Systems LLC has agreed to acquire from Covestro LLC, some of the assets of the North American spray polyurethane foam (SPF) business located in Spring, TX. The sale is to be concluded in the second quarter of 2017.
Andy Harris, president, and CEO of Accella said, “This acquisition will significantly improve Accella’s position in the spray polyurethane foam market and is another strategic step with our positive track record combining the best polyurethane based companies in the industry. The addition of a well-rounded product technology portfolio and a team of highly regarded industry experts will highly complement our current spray polyurethane foam business. Moving forward, Accella intends to focus on investing in and growing our spray foam business to meet the needs of our valued customers with the best people, products and service in the industry.”
Chris Brink, Accella’s VP of Polyurethane Systems, added “SPF is a very important area of business for our company with the value it brings to society. We will continue to raise the position of SPF as the preferred insulation choice in modern residential and commercial construction.”
Jerry MacCleary, president of Covestro LLC, commented, “The accomplishments of Covestro’s spray polyurethane foam team cannot be overstated. Both technically and commercially, their contributions have helped grow spray polyurethane foam as a technology in the construction market. This divestiture will allow us tofocus on our core business while ensuring our spray polyurethane foam employees can continue to shape the industry as a part of Accella.”
Accella, a leading manufacturer of custom formulated polyurethane systems, and polyurethane based recycled rubber products formed from the strategic combination of Dash Multi-Corp, MarChem, Arnco, Pathway Polymers, Ultimate Systems, RB Rubber, IPS Polymer Systems, Zeus, Premium Spray Products, Coating & Foam Solutions, Burtin Polymer Labs and Quadrant Spray Foam; focuses on foams, binders, coatings, adhesives, sealants and elastomers. The tire crumb, custom colored EPDM granules, custom and rolled matting, equine matting, athletic flooring, playground safety surfacing and various custom molded products, all based on Accella polyurethane technology, are the recycled rubber products. The company has eight production facilities across the United States, one in Europe and one in China.