20 January 2016
ICP is a leading specialty chemical company
engaged in the formulation, manufacturing, and
marketing of coatings and adhesives.
With operations headquartered in Andover, MA,
and additional manufacturing and warehousing in
Itasca, IL,
ICP serves the architectural, specialty construction,
packaging, printing and sport surfaces end markets.
ICP is privately held and operates primarily
under the California Paints, Fiberlock, Storm System,
Nicoat, Decoturf, Plexipave, and Rebound Ace brand names.
For more information, visit the ICG Group website at
DETAILS
3M today announced that it has entered into an agreement
to sell to
Innovative Chemical Products Group (ICP Group),
a portfolio company of Audax Private Equity,
the assets of
3M’s Pressurized Polyurethane Foam Adhesives business
(formerly known as Polyfoam), which is part of
3M’s Industrial Adhesives and Tapes Division.
Terms of the transaction were not disclosed.
3M’s Pressurized Polyurethane Foam Adhesives business
is a provider of pressurized polyurethane foam adhesive formulations
and systems into the residential roofing, commercial roofing
and insulation and industrial foam segments in the United States,
with annual sales of approximately $20 million.
The product offering includes a two-component roof tile adhesive
that professional roofers use to attach concrete or clay roof tile.
The business also offers a polyurethane foam adhesive
used for adhering the fleece back roofing membrane and
insulation board in low-slope roofing applications.
Ty Silberhorn,
Vice president and general manager,
3M Industrial Adhesives and Tapes Division
“After strategic portfolio review, we decided to exit this business
and focus on our core adhesives, sealants, and tapes businesses,”
3M applies its adhesive technology to solutions for
bonding, protecting, masking, enhancing, shielding, damping,
splicing, reinforcing, color coding, and case sealing applications.
Doug Mattscheck,
President and chief executive officer of ICP Group
“The Pressurized Polyurethane Foam Adhesives business
will be a new, strategic business unit within ICP Group,
focused on industrial and construction applications.
This acquisition further extends the market, technology,
and customer base of our business and
gives us a foothold into polyurethane technologies.
We welcome the entire Pressurized Polyurethane Foam Adhesives team
and look forward to working with them
to accelerate growth of the business through
investments in products, sales and marketing, and acquisitions,”
WWW.CHEMWINFO.COM BY KHUN PHICHAI
