PolyOne Corp. said it has acquired specialty assets from Accella Performance Materials, a manufacturer of liquid polymer formulations, for $49 million.
The acquired business provides specialty coatings services in applications including consumer products; interior and under-the-hood automotive parts; outdoor recreational equipment; and food packaging, according to a PolyOne news release. The acquired business joins PolyOne's global color, additives and inks segment.
Accella will retain its polyurethanes and rubber products businesses.
Avon Lake, Ohio-based PolyOne, a compounder and resin distributor, said in the release that it expects the acquisition to add $35 million to its annual sales and to be accretive to earnings in 2015.
“We're thrilled to have acquired this specialty business and its innovative technologies, and we look forward to serving our newest customers with increased innovation, delivery, quality and services,” said John V. Van Hulle, president of global color, additives and inks at PolyOne, in a statement.
He said the acquired Accella technology portfolio “complements our existing specialty business, and expands our presence in fast-growing end markets that are aligned with key megatrends.”
Accella CEO ANy Harris said the sale allows his company 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."
Accella is owned by New York-based private equity firm Arsenal Capital Partners. St. Louis-based Accella previously was named Dash Multi-Corp. Inc.
Crain's Cleveland Business, a sister publication to Plastics News, contributed to this report.