Carlisle Companies Inc. has acquired Accella Performance Materials, a specialty polyurethane company, from Arsenal Capital Partners in a $670 million all-cash deal, the companies announced.

The deal was completed Wednesday after being announced back in early October.

Accella, based in Maryland Heights, Mo., produces polyurethane products like spray polyurethane foam and liquid applied roofing. Carlisle, headquartered in Scottsdale, Ariz., makes commercial and industrial building envelope products through its Carlisle Construction Materials segment.Credit: Carlisle Companies Inc.

At the time of the purchase agreement, Accella had $430 million in annualized revenue with EBITDA margins approaching 15 percent. The first-year earnings per share accretion is expected to be $0.09, the companies predict.

“The acquisition of Accella Performance Materials is part of our well-established strategy of providing customers with high-quality, innovative solutions for building envelop applications,” says Christian Koch, Carlisle’s president and chief executive officer.

“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 to 15 percent 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. 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.”

Meanwhile, Arsenal, which sold Accella, reportedly acquired Carolina Color Corp. of Salisbury, N.C., and Breen Color Concentrates LLC of Lambertville, N.J. They're both chemical and specialty plastics firms.