PolyOne Corp. Buys Some Assets of Accella Performance Materials for $49 Million
02 Dec 2014
PolyOne Corp. has announced 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-based PolyOne, a provider of specialized polymer materials and services, said in the release that it expects the acquisition to add $35 million to revenues 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.”