German polymers producer Covestro (Leverkusen; www.covestro.com) has agreed to sell its spray PU foams (SPF) plant in Spring, Texas / USA to Accella Polyurethane Systems (Cartersville, Georgia / USA; www.accellapolyurethane.com). SPF foam is used as insulation and roofing in the construction industry. Andy Harris, president and CEO of Accella, which is owned by private equity firm Arsenal Capital Partners (New York / USA; www.arsenalcapital.com), said the acquisition will complement and significantly improve Accella’s position in the SPF market, a segment that the company intends to focus on investing in and growing.

The facility includes commercial and production operations and employs about 40 people. Financial details of the sale, which is anticipated to close in the second quarter, were not disclosed.

Covestro’s parent company, Bayer (Leverkusen / Germany; www.bayer.com), announced just last week that it is reducing its stake in the engineering plastics subsidiary by 10.9% to 53.3% – see Plasteurope.com of 03.03.2017.