6. Innovative Chemical Products (ICP) Group

Andover, MA



CEO: Doug Mattscheck

2020 Coatings Sales: $700 million

A specialty chemical company engaged in the formulation, manufacture and marketing of coatings and adhesives, Innovative Chemical Products (ICP) Group has operations headquartered in Andover, Massachusetts, and more than two dozen additional manufacturing and distribution locations located throughout the United States, Europe, Mexico and Australia.

A portfolio company of Audax Private Equity, ICP Group manufactures products under several recognized brands through two distinct business units. ICP Building Solutions Group focuses on product solutions dedicated to delivering high-performance professional products and services for building and construction applications. ICP Industrial is a global leader in the development, application and technical support of specialty coatings, delivering innovative solutions to the packaging, labeling and graphic arts industries.

Notes: A few key acquisitions in 2020 have added to ICP’s portfolio. Leeson Polyurethanes is an adhesives and coatings company in the U.K. ICP reports that Leeson Polyurethanes is the leading innovator and manufacturer of polyurethane adhesives and coatings in the U.K. Founded in 1986, the company serves a wide range of customers across numerous industries across the globe, including insulation, building and construction, sports surfaces, recreational areas, polyurethane waterproofing, OEM factory uses and more. Gardner Gibson and Sun Coatings, (Gardner-Gibson) is a manufacturer of liquid-applied roof coatings, roofing products, driveway sealers and specialty paints primarily serving professional contractors for commercial and residential applications. Based in Tampa, Florida, Gardner-Gibson is one of the leading providers of liquid-applied roof coatings, roofing products, driveway sealers and specialty paint, and is recognized for its industry-leading brands. With manufacturing and distribution facilities across the United States and Canada, Gardner-Gibson’s products are sold in leading retailers and building supply distributors under the Gardner®, Black Jack®, APOC® and Dyco® brands. In April of this year, ICP announced it had entered into an agreement to acquire Choice Adhesives, a leader in custom adhesive solutions for a variety of industries. Choice Adhesives’ strong offering in the professional roofing adhesives market will complement the growing ICP Building Solutions Group (ICP BSG) portfolio, which includes roofing brands like Polyset® and APOC®. By broadening its technological capabilities in the roofing space, ICP BSG will have a greater ability to serve professionals everywhere.

Source: Company contact, press releases