NEW YORK—Arsenal Capital Partners has made another polyurethane foam deal, this time buying part of Covestro L.L.C.'s business in that market for an undisclosed price.
Arsenal is making the deal through its Accella Polyurethane Systems L.L.C. unit. The transaction includes certain assets of Covestro's North American spray PU foam business, which is located in Spring, Texas. The sale is expected to be finalized in the second quarter.
The acquisition "will significantly improve Accella's position in the spray polyurethane foam market and is another strategic step with our positive track record combining the best polyurethane based companies in the industry," Accella President and CEO Andy Harris said in a news release.
"Moving forward, Accella intends to focus on investing in and growing our spray foam business to meet the needs of our valued customers," he added.