11. Innovative Chemical Products (ICP) Group

Andover, MA



CEO: Doug Mattscheck

Coatings Sales: $250 million

Innovative Chemical Products (ICP) Group is a specialty chemical company engaged in the formulation, manufacture and marketing of coatings, adhesives, sealants and elastomers (C.A.S.E.). With operations headquartered in Andover, Massachusetts, and more than a dozen additional manufacturing and distribution locations located throughout the United States, Mexico and Australia, ICP Group manufactures products under several well-recognized brands within their industries.

The company is comprised of two core groups: ICP Building Solutions Group (BSG) and ICP Industrial Group (IG). ICP BSG serves three major segments. 1) Building Envelope Solutions provides architectural coatings and stains, specialty coatings, adhesives, insulation, environmental solutions, and waterproofing. 2) Cementitious Solutions develops decorative flooring coatings, specialty floor coatings, and stone surface cleaning and waterproofing. 3) Sport Surface Solutions offers products for outdoor sports courts, tracks, running paths and various indoor sports surfaces. ICP IG serves the packaging and printing industry, providing specialty coatings solutions for packaging, labeling and the graphic arts industry.

Source: Company contact, press releases

Notes: ICP Group is a portfolio company of Audax Private Equity. In the first quarter of 2019, ICP Group completed three acquisitions. The first acquisition included the brands of Fireshell®, Heat Shedder®, FireSafe® and Structure Saver® intumescent coatings - proprietary fire and thermal products that have been servicing the various construction markets for over 20 years. The second acquisition included ASTEC®, a leading brand of fluid-applied membrane systems for the sustainable restoration of roofs, walls, tanks, piping, ductwork and other industrial surfaces. The third acquisition included Benefect, a world-recognized leader in next-generation botanical anti-microbials that produces disinfectant and cleaning supplies for the environmental remediation industry. These acquisitions have served an important role in empowering ICP BSG to act as a leading resource for the building and construction industry.

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