PolyOne Corp. (NYSE: POL) is buying assets from private equity-backed Accella Performance Materials Inc. for $49 million.
PolyOne, headquartered in Avon Lake, Ohio, will add the assets to its inks and additives segment, which makes products for consumer goods, interior and food packaging uses. The buyer provides specialized polymer materials.
Accella is holding on to its polyurethane and recycled rubber business, and will use the asset divestment as a way to focus on those operations. The St. Louis, Missouri-based company makes products for sport surfaces, tire fill, sealants and specialty foams. The company is backed by private equity firm Arsenal Capital Partners, headquartered in New York. The company has made multiple add-on acquisitions, including Zeus Tyrefill Systems in September.
The Valence Group was Accella's financial adviser, and DLA Piper LLP provided legal advice.