Covestro LLC has agreed to sell its North American spray polyurethane foam system house to Accella Polyurethane Systems LLC. Accella is a portfolio company of Arsenal Capital Partners. The sale is scheduled to be completed in the second quarter of 2017. Financial terms have not been disclosed.
Covestro’s spray polyurethane foam business is located in Spring, Texas. The roughly 40 employees at the Spring facility will be offered the opportunity to become Accella employees. Operations will continue at the current facility.