Industry News

CHT to Expand Silica Business in USA with Acquisition of ICM Silicones

Published on 2017-09-18. Author : SpecialChem

CHA Acquires ICM Silicones
CHT Group has announced the acquisition of ICM Silicones Group; headquartered in Cassopolis, Michigan, USA.

ICM Silicones Group consists of five separate operating subsidiaries:
  • ICM Products Inc. in Cassopolis, Michigan; 
  • QSi LLC in Richmond, Virginia; 
  • ACC Silicones Ltd. in Bridgwater, UK; 
  • Treco Srl in Milan, Italy 
  • ACC Silicones in Tianjin, China

ICM Silicones Group greatly expands CHT’s geographic reach in the US market and strengthens its already strong presence in the silicone specialties business.

Acquisition Doubles Silicone Business

Dr. Frank Naumann, CEO of CHT Group said:

“We’re excited to combine the silicone specialty businesses of ICM Silicones Group and CHT. The acquisition doubles our current silicone business and positions us as a leading silicone specialties supplier globally. We look forward to continuing the strong business development by building on the combined strength of technical innovation and customer service both companies offer. Furthermore, this transaction brings CHT Group back to the ever important US market.“

Re-entrance of CHT Group in USA

Dr. Ralf Brückmann, Head of Business Field General Industries, CHT Group, said:

“The combination of CHT Silicones and ICM Silicones will greatly expand the variety of products and services that CHT already offers to the marketplace globally. With this transaction, CHT Silicones will have a stronger international footprint and will be able to add significantly more value to our customers.”

Levi Cottington, CEO of ICM Silicones Group, expressed enthusiasm over the acquisition. Saying:

“The acquisition is a great fit for both companies. CHT gains a strong presence in the United States plus adds technology and market segment expertise that can be used globally. We appreciate what we have been able to accomplish with Century Park and look forward to being part of the strong global CHT Team.”

Dr. Bernhard Hettich, COO of the CHT Group commented:

"Broadening CHT’s silicone business and technology base into attractive new market segments is a key focus of our growth strategy within our Agenda 2020. The combination of the CHT silicone business with ICM Silicones Group could not be a better fit."

Quarles & Brady acted as legal advisors and Alantra, Boston, acted as financial advisors to CHT Group on the transaction. It has been agreed between seller and buyer that terms will not be disclosed.

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Source: CHT Group
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