Innovative Chemical Products Group Announces Acquisition of MinusNine Technologies by Industrial Division
Andover, Mass. – February 6, 2017 – Innovative Chemical Products (the ICP Group) today announced the acquisition of MinusNine Technologies, a leading formulator and manufacturer of UV/EB coatings, adhesives, primers and specialty products for graphic arts and industrial applications. MinusNine, headquartered in Birdsboro, PA, will be integrated into ICP Industrial, Inc., one of the three divisions of the ICP Group.
ICP Industrial currently manufactures industry-leading Nicoat® coatings and adhesives, and with the successful completion of the acquisition of MinusNine, is poised to provide even broader offerings to the packaging, labeling, graphic arts, and industrial markets.
“We are enthusiastic to bring MinusNine into the ICP Industrial family,” said Paul Grzebielucha, President of ICP Industrial. “The opportunity for continued growth and our complementary cultures make this an ideal fit. Through sharing best practices, scalable operational capacity, advanced technologies and talented leadership and employees, we can leverage both companies’ capabilities to deliver great value to our customers and increased opportunities to our team members.”
As part of the larger platform company, ICP Group, ICP Industrial provides opportunity for continued growth and added strength through raw material purchasing synergies, technological collaboration, and shared service. With the addition of MinusNine’s extensive product offerings, advanced technologies and talented employees, the ICP Group further expands its leadership position in the Coatings, Adhesives, Sealants and Elastomers (CASE) markets.
“We are excited to welcome MinusNine to the ICP team,” said Doug Mattscheck, CEO of the ICP Group. “Our combined brands, products and technologies propel us into a new chapter for our Industrial division. Additionally, this acquisition will strengthen our ability to support our customers through innovation, as we continue to lead the specialty coatings and adhesives markets.”
Innovative Chemical Products (the ICP Group) is a portfolio company of Audax Private Equity.
About ICP Industrial, a division of the ICP Group
A global leader in the development, application and technical support of specialty coatings, ICP Industrial delivers innovative solutions to the packaging, labeling and graphic arts industries. Trusted product brands Nicoat® and MinusNine are part of our high-performance portfolio of aqueous, UV/EB and specialty coatings and adhesive technologies. Our passion lies in delivering high-quality customer solutions, dedication to quick turnaround times and industry leading custom innovation. For more information, please visit www.ICPIndustrial.com.
About ICP Group
Innovative Chemical Products (the ICP Group) is a leading specialty chemical company engaged in the formulation, manufacturing, and marketing of coatings and adhesives. With operations headquartered in Andover, MA, and additional manufacturing and warehousing in Norton, OH, Waukegan, IL, Itasca, IL, Tomball, TX, and Coral Springs, FL., ICP serves the architectural, specialty construction, packaging, printing and sport surfaces end markets. ICP is privately held and manufactures products under several specialty brands, including Polyset, Handi-Foam, California Paints, Fiberlock, Dry-Treat, Storm System, Nicoat, Rock-Tred, and California Sports Surfaces. For more information on ICP, please visit www.ICPGroup.com.