TAGS: Sealants
Innovative Chemical Product (“ICP Group” or “ICP”), manufacturer of specialty coatings, adhesives and building envelope solutions, acquires Gardner-Gibson and Sun Coatings, (“Gardner-Gibson”) manufacturer of liquid-applied roof coatings, roofing products, driveway sealers and specialty paints primarily serving professional contractors for commercial and residential applications to boost adhesive business.
Strengthening Product Offerings & Distribution Network
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.
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The Gardner-Gibson acquisition and combination with ICP Group will strengthen the product offerings and distribution network for both companies,” said Doug Mattscheck, chief executive officer, 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.”
Offering Products for Roofing & Flooring Applications
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.
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ICP Group has the infrastructure, networks and experience to take Gardner-Gibson to new levels of success,” said Sean Hyer, chief executive officer, 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.
Source: Innovative Chemical Products