Century Park Acquires Amber Chemical
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Century Park Acquires Amber Chemical

amber nf1ICM Products, a specialty chemicals manufacturer and a portfolio company of Century Park Capital Partners, has acquired Amber Chemical Company. Century Park first invested in ICM Products in February 2012.

Amber Chemical is a specialty manufacturer of silicone adhesives, elastomers, fluids, emulsions and antifoams used in the electronics, photovoltaic, solar, automotive, molding, personal care, and chemical processing industries. The company’s sales and technical teams also assist customers with product selection, lab testing, trials, qualifications and application methods. Amber was founded in 1906 and has production facilities in Bridgwater, UK (headquarters); Richmond, VA; Lawrenceville, GA; Milan, Italy; and Tianjin, China (www.amberchemical.com).

guy zap nf1“Broadening ICM’s customer and product base into attractive new markets has been a key focus of our growth strategy since we made our original investment,” said Guy Zaczepinski, Partner with Century Park Capital Partners. “Combining ICM with Amber Chemical could not provide a better fit—and we will continue to search for further strategic acquisitions across the specialty silicone space, in both elastomers and emulsions.”

ICM Products is one of the largest independently-owned specialty silicone formulators in the United States. The company specializes in the development of silicone polymers, emulsions and defoamers for use in a range of applications and end markets including personal care, food processing, mold release, cleaning, coatings and automotive care. Century Park’s investment in ICM was made in conjunction with Don Stanutz, former COO of Huntsman Corporation and a chemicals industry veteran. ICM was founded in 1989 by silicone technology expert Ken Charboneau and is based in Cassopolis, MI (www.icmproducts.com).

marty sarafa nf1“The combination of ICM and Amber Chemical more than doubles the size of our platform. We truly are positioned as a global leader in the specialty silicone space, with a bright future ahead of us,” said Marty Sarafa, Managing Partner with Century Park Capital Partners.

Century Park Capital Partners invests from $10 million to $40 million in profitable, growing middle-market companies with operating cash flows of at least $4 million and revenues ranging from $25 million to $150 million. Sectors of interest include manufacturing, branded distribution and service businesses. The firm is based in Los Angeles (www.centuryparkcapital.com).

“The combination of ICM and Amber Chemical with its five operating subsidiaries will greatly expand the breadth of new products and services that ICM offers to the marketplace,” said David Smith, CEO of ICM Products. “We could not be more excited about the potential for this partnership.” Tom Gawlik, CFO of ICM Products, added, “With this transaction, ICM will have a stronger international footprint and will be able to add significantly more value to its customers.”

Madison Capital Funding (www.mcfllc.com), PNC Erieview Capital (www.pncerieview.com) and Montpelier Fund provided the financing for the transaction.

© 2014 PEPD • Private Equity’s Leading News Magazine • 4-2-14

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