Covestro Sells SPF Business to Accella
Covestro LLC has completed the sale of its North American spray polyurethane foam system house to Accella Polyurethane Systems LLC. Accella is a portfolio company of Arsenal Capital Partners. Financial terms have not been disclosed.
Covestro’s spray polyurethane foam business is located in Spring, Texas. The roughly 40 Covestro employees at the facility have been engaged by Accella. Operations will continue at the current facility.
The spray polyurethane foam business at the Spring, Texas, facility includes both commercial and production operations, serving North America as a leading producer of spray polyurethane foam, which is used as insulation and roofing in the construction of commercial buildings and residential homes.
Covestro will continue to supply its high-quality polyurethane raw materials to the spray polyurethane foam industry and provide industry support in this high-growth segment. Covestro remains committed to its core raw materials and systems segments in the North American polyurethane market.