Audax Adds to ICP

Audax Adds to ICP

Innovative Chemical Products (ICP Group), a portfolio company of Audax Private Equity, has acquired Signature Sports Flooring, a division of Signature Systems Group.

Signature Sports Flooring is a manufacturer, distributor, and installer of synthetic and hardwood sport surfaces for installations such as weight rooms, locker rooms, aerobic rooms, gyms, common areas, and multi-purpose facilities, including wet surfaces designed for pool decks. The business is headquartered near Dallas in Flower Mound, TX (

ICP Group is active in the formulation, manufacturing, and marketing of coatings, adhesives, sealants and elastomers. The company serves the building materials, specialty construction, industrial, packaging, printing, and sports surfaces end markets. ICP Group is headquartered near Boston in Andover, MA (

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 Signature Sports Flooring is the seventh add-on acquisition completed by ICP Group.

ICP Group will add the Signature Sports Flooring brand to their Sport Surfaces Unit, which is part of their Building Solutions Group (BSG). “Signature Sports Flooring was identified as a partner that could easily align with our Sport Surfaces Unit brands,” said Doug Mattscheck, CEO of ICP Group and President of the Building Solutions Group. “Like ICP’s Building Solutions Group, they are an industry-leader that manufactures and installs world-class products for professional and recreational sports. We believe their expanded portfolio of sports surface and flooring solutions will be an asset as we expand our reach outside of our traditional markets, while offering existing ICP customers a greater selection of products and services. I think we’re going to really see the needle move for both companies.”

“From sales to installation, Signature Sports Flooring is a full-service one-stop shop for sports flooring. This addition to our Sport Surfaces Unit reinforces our commitment to compete more aggressively in the sports and recreational flooring market,” said Zain Mahmood, Chief Commercial Officer of ICP’s Building Solutions 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 (

Signature Systems Group, the seller of the Signature Sports Flooring division, is a manufacturer and provider of portable and permanent flooring, composite matting systems, sports flooring, barricades and portable fencing products. The company is headquartered in Flower Mound, TX (

© 2018 Private Equity Professional | September 28, 2018

To search in site, type your keyword and hit enter