ST. LOUIS—Polyurethane and recycled rubber product maker Accella Performance Materials Inc. has expanded its spray urethane foam operation significantly with the purchase of three companies.
It finalized a deal to buy Premium Spray Products Inc., a manufacturer of spray foams and specialized polyurethane systems, Sept. 9. Premium's spray foams are used for insulation and roofing while its specialized polyurethane systems are aimed at niche applications.
On Sept. 10, St. Louis-headquartered Accella said it had completed the acquisition of Burtin Polymer Labs Inc., a producer of spray foams and coatings used in insulation and roofing, and Coating and Foam Solutions L.L.C., a distribution business focused primarily on commercial roofing for Burtin.
Accella had a minimal presence in the sector prior to the purchases, according to Andy Harris, president and CEO of Accella Performance Materials. “This is a strategic expansion into new markets and technologies, based on polyurethane systems.”
He said the three acquisitions also create the opportunity for new technologies involving spray foams and specialty coatings in North America. “We bring a manufacturing and technical base in the Southeast to complement our footprint across North America.”
He said the additions will increase the firm's revenues by at least 30 percent.
Financial terms of the three transactions were not released.