PolyOne Corporation, a global provider of specialized polymer materials, services and solutions, has announced the acquisition of specialty assets from Accella Performance Materials, a leading North American manufacturer of liquid polymer formulations. Accella will retain its polyurethanes and rubber products businesses.
The acquired business joins PolyOne's Global Color, Additives and Inks segment, and provides specialty coatings solutions and value-added services in a wide range of applications, including consumer products, interior and under-the-hood automotive parts, outdoor recreational equipment and food packaging.
"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, Global Color, Additives and Inks, PolyOne Corporation. "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."
With a purchase price of $49 million, PolyOne expects the acquisition to add $35 million to revenues and be accretive to earnings in 2015.
"This is a compelling acquisition that highlights our approach to M&A," said Robert M. Patterson, president and chief executive officer, PolyOne Corporation. "Our invest-to-grow integration playbook is one we have historically executed with great success. We will leverage our best-in-class technical, commercial and operational capabilities to drive growth for this new business, PolyOne, and most importantly our customers."
