Carlisle Cos Inc. (NYSE: CSL) is purchasing Accella Performance Materials, a manufacturer of recycled rubber products, from private equity firm Arsenal Capital Partners in a $670 million cash transaction.

Accella Performance makes formulated polyurethane systems and recycled rubber materials used in the process of landscaping, roofing, tire filling, air sealing, producing chemical resistant coatings and sealants. Under the terms of the deal, Maryland Heights, Missouri-based Accella Performance will join the buyer’s Carlisle Construction Materials division.

Carlisle manufactures products for the commercial roofing, agriculture, mining, construction, aerospace, defense, foodservice, healthcare, sanitary maintenance, transportation, industrial, protective coating and auto refinishing sectors. The Scottsdale, Arizona based buyer reported approximately $3.7 billion in sales in 2016. The deal for Accella Performance brings new products, technologies and market diversity to the Carlisle Construction Materials division.

“Accella provides an excellent adjacent opportunity into the attractive polyurethane market, which includes spray polyurethane foam and liquid applied roofing,” states Carlisle CEO Christian Koch. Both markets are expected to grow annually at 10-15% through 2020, outpacing broader construction market growth.”

Accella Performance has made a handful of add-on acquisitions under the ownership of Arsenal. In 2015, the target acquired insulation foam maker Premium Spray Products and also bought IPS Polymer Systems. In 2014, Accella purchased flat-proofing systems maker Zeus Tyrefill Systems and granules manufacturer RDT Manufacturing LLC.

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Kamaron Leach

Kamaron Leach

Kamaron Leach joined SourceMedia in 2016, serving as Reporter of Mergers & Acquisitions. Kamaron writes the Finance Finesse column about investment banking and lending, and also covers the media and entertainment sector.