Accella Permance Materials, backed by Arsenal Capital Partners, has acquired Premium Spray Products for undisclosed terms.

Premium Spray, based in Marietta, Georgia, makes spray foams for insulation and roofing. Accella, based in St. Louis, manufactures polyurethane and rubber products. Arsenal bought Accella in 2012 when it was known as Dash Multi-Corp.

Accella has made a handful of add-on acquisitions under Arsenal’s ownership. Earlier in 2015, the company acquired IPS Polymer Systems. In 2014, Accella purchased flatproofing systems maker Zeus Tyrefill Systems and granules manufacturer RDT Manufacturing LLC.

New York-based Arsenal typically makes equity investments of $25 million to $75 million in companies that have between $50 million to $250 million in enterprise value.

Arsenal's John Televantos spoke to Mergers and Acquisitons earlier in 2015 about the firm's interest in the coatings space.

In May 2014, Arsenal's Terrence Mullin spoke to Mergers and Acquisitions about the PE fundrasing climate and Arsenal's investment strategy.

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