Written by ICP Group

ICP Building Solutions Group Acquires Gardner-Gibson, a Leading Supplier of Roofing Products and Driveway Sealers

The collective strengths of two companies will deliver value for customers, professionals, and end users

ANDOVER, Mass. – January 4, 2021 – Innovative Chemical Product’s (“ICP Group” or “ICP”), a leader in specialty coatings, adhesives and building envelope solutions, announced today that it has acquired Gardner-Gibson and Sun Coatings, (“Gardner-Gibson”) a leading manufacturer of liquid-applied roof coatings, roofing products, driveway sealers and specialty paints primarily serving professional contractors for commercial and residential applications.  The acquisition builds upon ICP Group’s extensive line of building solutions and global distribution network and creates one of the largest privately held coatings and adhesives companies in North America.

“The Gardner-Gibson acquisition and combination with ICP Group will strengthen the product offerings and distribution network for both companies,” said Doug Mattscheck, CEO, ICP Group. “We were strong individually and will be even stronger together as we enhance our portfolio of coatings, adhesives, and building envelope solutions.  ICP Group welcomes the Gardner-Gibson employees to the ICP family and looks forward to supporting the continued growth of the combined businesses.”

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 U.S. and Canada, Gardner-Gibson’s products are sold in leading retailers and building supply distributors under the Gardner®, Black Jack®, APOC® and Dyco® brands.

The integration of Gardner-Gibson into ICP’s Building Solutions Group unites premier brands to offer a wide range of products for roofing, building envelope, and flooring applications primarily serving commercial facilities, and repair and maintenance applications.

“ICP Group has the infrastructure, networks and experience to take Gardner-Gibson to new levels of success,” said Sean Hyer, CEO, Gardner-Gibson. “We’re looking forward to working together and delivering more value to our customers, retail partners and distributors for years to come. It’s an exciting time to be at Gardner-Gibson as we enter this new era of innovation and product expansion with ICP.”

Lazard Middle Market served as financial advisor and Foley & Lardner served as legal counsel to Gardner-Gibson on the transaction.  Kirkland & Ellis served as legal counsel to ICP Group on the transaction, and J.P. Morgan, BMO, Antares, and Goldman Sachs provided the financing.

For more information about ICP, visit www.icpgroup.com.

The ICP Group is a portfolio company of Audax Private Equity.

 

About ICP
Innovative Chemical Products (“ICP Group”) is a leading manufacturer of specialty coatings, adhesives, and sealants.  With operations headquartered in Andover, Massachusetts, and multiple manufacturing facilities around the world, ICP serves multiple end markets, including building envelope, packaging, and specialty print. ICP Group is privately held and manufactures products under several recognized specialty groups. For more information, visit www.icpgroup.com.

About ICP Building Solutions Group
ICP Building Solutions Group is the foremost supplier of professional coatings, adhesives, and sealants for building envelope and flooring needs. Comprising dozens of industry-leading brands across numerous industries and applications, ICP Building Solutions Group offers the industry’s most comprehensive portfolios to building professionals all over the globe.  For more information, visit www.icpgroup.com.

About Gardner-Gibson
Gardner-Gibson, Inc. serves professional contractors and DIYers as a full-line manufacturer of roof, driveway and waterproofing coatings, caulks, and sealants.   Headquartered in Tampa, Florida, Gardner-Gibson operates manufacturing and distribution facilities across North America. For more information about Gardner-Gibson products, as well as project resources and application tips, visit www.gardner-gibson.com.

About Audax Private Equity

Audax Group is a leading alternative investment manager with offices in Boston, New York, and San Francisco. Since its founding in 1999, the firm has raised over $27 billion in capital across its Private Equity and Private Debt businesses. Audax Private Equity has invested over $6 billion in more than 135 platforms and over 900 add-on companies, and is currently investing out of its $3.5 billion, sixth private equity fund. Through its disciplined Buy & Build approach, Audax seeks to help platform companies execute add-on acquisitions that fuel revenue growth, optimize operations, and significantly increase equity value. With more than 250 employees and over 100 investment professionals, the firm is a leading capital partner for North American middle market companies. For more information, visit the Audax Group website www.audaxgroup.com.

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Written by ICP Group

ICP Reformulates HandiFoam for Improved Performance and Lower Global Warming Potential

Developed with a low-GWP blowing agent, a complete reformulation of HandiFoam E84 delivers 30% greater adhesion and a range of new benefits for professionals.

ANDOVER, Massachusetts – November 19, 2020 – ICP Building Solutions Group (ICP BSG) announces the launch of HandiFoam E84 Low GWP, a new, improved performance formulation of the spray foam insulation solution trusted by professionals everywhere.

Available for purchase in 2021, the nonflammable formulation will be fully compliant for use throughout North America, where Canada and several U.S. states will implement regulations phasing out high global warming potential (GWP) blowing agents in low pressure polyurethane spray foams beginning Jan. 1.

“At ICP Building Solutions Group, innovation and sustainability are a part of our everyday business,” said Tim Kenworthy, Vice President, Insulation, ICP BSG. “We took these impending regulations as an opportunity to improve our polyurethane foam product line, and to help our customers stay ahead of the curve. The new HandiFoam formulation is not only fully compliant, but delivers a range of new benefits we believe can help them sharpen their competitive edge.”

Benefits include:

  • Simplified inventory. By satisfying low-GWP requirements in Canada and certain U.S. states, HandiFoam 84 can help professionals simplify their inventory with a single product formula that can be sold and used anywhere.
  • Stronger adhesion. HandiFoam E84 Low GWP achieves 30% greater adhesion compared with the current formulation, offering stronger, more reliable performance.
  • Easier curing indication. After application, HandiFoam E84’s color shifts from white to yellow as an indicator of a proper curing profile.
  • Excellent fire rating. HandiFoam E84 Low GWP achieves a 2.5-inch Class 1 fire rating, providing greater application opportunities in certain climate zones. Traditional low pressure spray foams achieve Class 1 fire rating at 2 inches or less.
  • Ergonomic improvements. 105/205-sized kits feature a redesigned ergonomic handle, while 605 kits feature a new box design for easier maneuverability.
  • Spray pattern versatility.  Our flagship ColorWise nozzle technology has improved for greater versatility based on user preference. The nozzle can now be converted from a fan spray to a cone spray by simply snapping off the tip. This patented technology can help a contractor stay efficient.

“We’ve heard nothing but positive reports from contractors who have trialed this new product’s use, so we’re excited for our professional customers everywhere to get their hands on it,” said Kenworthy.  “At ICP BSG, we take our position as an industry leader seriously, and we’re committed to delivering practical, high-performance products that can help our customers be leaders, too. HandiFoam E84 Low GWP is a part of that commitment.”

HandiFoam E84 Low GWP, like all ICP BSG solutions, is backed by MasterWorks, an exclusive program that offers customers access to expert training, special promotions, and a variety of unique growth tools.

About ICP Building Solutions Group
ICP Building Solutions Group is the foremost supplier of professional products and solutions for building envelope, cementitious and sports surface needs. Comprising dozens of industry-leading brands across numerous industries and applications, ICP Building Solutions Group offers the industry’s most comprehensive portfolios to building professionals all over the globe, all backed by its exclusive MasterWorks training and education program. For more information, visit www.icpgroup.com.

About ICP
Innovative Chemical Products (the ICP Group) is a leading specialty chemical manufacturer in North America and provides coatings, adhesives and sealants globally. With operations headquartered in Andover, Massachusetts, and multiple manufacturing facilities around the world, ICP serves multiple end markets, including building materials, specialty construction, industrial, packaging, printing and sports surfaces. ICP Group is privately held and manufactures products under several recognized specialty groups. For more information, visit www.icpgroup.com.

Media Contact:

Bridget Hagan, akhia communications
(330) 463-5650
bridget.hagan@akhia.com

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Written by ICP Group

California Sports Surfaces Launches Ultra Performance Series

The sports surface solutions provider is investing in robust new formulations, new colors and new service improvements as part of its longstanding commitment to being an industry-leading partner for its worldwide customers.

ANDOVER, Massachusetts – November 5, 2020 – ICP Building Solutions Group (ICP BSG) has announced the launch of its California Sports Surfaces (CSS) Ultra Performance Series, a complete reformulation of its Plexipave® and DecoTurf® products that delivers exceptional abrasion resistance, improved permeability, excellent coverage, a streamlined color palette and other qualities demanded in the world’s most competitive sports surface applications.

CSS Ultra Performance comes as part of ICP BSG’s wide-ranging reinvestment in California Sports Surfaces, an effort to affirm the brand’s position as the clear industry leader in the sports surfaces and flooring industry. Customers can expect higher-performing products, enhanced service and support, and faster, streamlined delivery, solidifying California Sports Surfaces as a better business partner around the world.

“Plexipave, DecoTurf and a variety of other California Sports Surfaces brands have been trusted to deliver outstanding resiliency and performance in some of the world’s highest-profile sporting events for decades,” said James Rack, Vice President, Sports Surfaces, ICP BSG. “We intend to carry on that mission for decades to come. It’s why we have committed to bringing new talent into the organization, dedicating resources to research and development, and reformulating our products for greater performance than ever before.”

The CSS Ultra Performance series delivers:

  • Exceptional abrasion resistance and durability to minimize surface wear.
  • Improved permeability, allowing the coating to breathe from the ground up and avoid moisture-trapping.
  • Enhanced tensile strength, providing greater pliability when applying a coating over rubber mat systems or imperfect asphalt.
  • Better UV resistance and color retention to minimize changes or fading after prolonged sun exposure.
  • Excellent coverage, helping installers get more from every application.
  • A streamlined, enhanced color palette to help customers achieve outstanding looks on every surface.

In conjunction with the launch of CSS Ultra Performance, ICP BSG is bolstering the California Sports Surfaces team with new personnel across its operations to help provide better service in the field, improved response time and continuous innovation across each high-performance products.

“Everything we’re doing, we’re doing to better serve our customers,” said Rack. “We’re excited for our customers to get their hands on CSS Ultra Performance products and to provide outstanding service well into the future.”

For more information about CSS Ultra Performance, visit www.CaliforniaSportsSurfaces.com.

About California Sports Surfaces
California Sports Surfaces (CSS) is the leading supplier of prestigious sports surfacing product lines, such as DecoTurf®, Plexipave®, Rebound Ace®, Premier Sports Coatings®, StreetScape and Plexitrac®. As the first and only surface manufacturer to be awarded the status of International Tennis Federation (ITF) Recognition Elite Silver, CSS is the surface of multiple Olympic Games as well as other world-renowned events, including the US Open from 1978 to 2019 and the Australian Open from 1988 to 2018. Several portable court systems are also available across the CSS product family. For more information, visit www.californiasportssurfaces.com

About ICP Building Solutions Group
ICP Building Solutions Group is the foremost supplier of professional products and solutions for building envelope, cementitious and sports surface needs. Comprising dozens of industry-leading brands across numerous industries and applications, ICP Building Solutions Group offers the industry’s most comprehensive portfolios to building professionals all over the globe, all backed by its exclusive MasterWorks training and education program. For more information, visit www.icpgroup.com.

About ICP
Innovative Chemical Products (the ICP Group) is a leading specialty chemical manufacturer in North America that provides coatings, adhesives and sealants globally. With operations headquartered in Andover, Massachusetts, and multiple manufacturing facilities around the world, ICP serves multiple end markets, including building materials, specialty construction, industrial, packaging, printing and sports surfaces. ICP Group is privately held and manufactures products under several recognized specialty groups. For more information, visit www.icpgroup.com.

Media Contact:

Bridget Hagan, akhia communications
(330) 463-5650
bridget.hagan@akhia.com

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