ICP Adds-On Again
Search
Share on twitter
Share on linkedin
Share on print
Share on email

ICP Adds-On Again

Innovative Chemical Products (ICP Group), a portfolio company of Audax, has acquired Arizona Polymer Flooring, a manufacturer of flooring products and concrete coating systems. The operations of Arizona Polymer will be placed under ICP Construction, a division of ICP Group.

ICP Group was formed in January 2016 when Audax combined two of its specialty chemical portfolio companies, California Products (acquired from Delos Capital in October 2015) and Nicoat (acquired in March 2015 from Caltius Equity Partners). Including the original buys of California Products and Nicoat, the buy of Arizona Polymer is the fifth add-on acquisition completed by ICP Group.

Last year, Arizona Polymer Flooring opened a new 50,000 square foot state-of-the-art facility in Phoenix that houses corporate offices, a manufacturing facility, and a warehouse and training facility. The company has an additional manufacturing facility near Austin in Buda, TX (www.apfepoxy.com).

ICP Group is active in the formulation, manufacturing, and marketing of coatings, adhesives, sealants and elastomers. The company serves the architectural, specialty construction, packaging, printing and sport surfaces end markets. ICP Group has warehousing and manufacturing facilities near Chicago in Itasca, IL and is headquartered near Boston in Andover, MA (www.icpgroup.com).

ICP Group’s brand names include California Paints, FixALL, Storm System, Fiberlock, Dry-Treat, California Sports Surfaces, Rock-Tred, Scuffmaster, Zolatone and ClearErase. The acquisition of Arizona Polymer adds more than a dozen flooring brands to both ICP Group and extends ICP Construction’s manufacturing and distribution capabilities to Arizona and the West Coast.

“This was an important acquisition for ICP Group. Arizona Polymer is a respected brand throughout many industries – military and aerospace, food and beverage, hospitality and entertainment, government, and more,” said Doug Mattscheck, CEO of ICP Group.

Audax Group makes control investments of $10 million to $100 million in middle market companies with transaction values of $25 million to $500 million. Sectors of interest include industrial manufacturing; energy; outsourced industrial services; consumer products; healthcare devices and services; non-asset based logistics; technology; aerospace & defense; business services; and direct marketing. The firm was founded in 1999 and has offices in Boston, New York and Menlo Park (www.audaxgroup.com).

© 2018 Private Equity Professional | January 26, 2018

Share on twitter
Share on linkedin
Share on print
Share on email

To search in site, type your keyword and hit enter