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arlisle Companies Incorporated has entered into a definitive purchase agreement to buy Accella Performance Materials, the premier specialty polyurethane platform, from Arsenal Capital Partners for US$670 million in cash.
Accella Performance Materials offers a wide range of polyurethane products and solutions across a broad diversity of markets and applications. Accella, headquartered in Maryland Heights, Missouri, has annualized revenue of approximately US$430 million with pre-synergy estimated transaction EBITDA margins approaching 15%. First year EPS accretion is expected to be US$0.09. Transaction EBITDA margins and EPS accretion are defined under “Non-GAAP Measures,” and reconciled to the most directly comparable GAAP financial measures in the related exhibit.
D. Christian “Chris” Koch, Carlisle’s President and Chief Executive Officer, said: “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.”
“Accella provides an excellent adjacent opportunity into the attractive polyurethane market, which includes Spray Polyurethane Foam and Liquid Applied Roofing. Both markets are expected to grow annually at 10-15% through 2020, outpacing broader construction market growth. In addition to accessing new products, new technologies and new markets, Accella delivers profitable market diversity to our CCM business,” he said.
“With the acquisition of Accella, Carlisle can now offer our customers a portfolio of products that meet an increasing array of their building needs, and can be delivered as a seamless solution or standalone offering. The combined Accella and Carlisle team will bring together significant engineering and industry expertise to create highly engineered solutions for our customers. We look forward to welcoming Accella’s talented team to Carlisle,” he added.