ANDOVER, Mass .-- ( BUSINESS WIRE ) - Innovative Chemical Products, a leader in coatings, adhesives and building envelope solutions, announced today he acquired Gardner-Gibson and Sun Coatings, a leading manufacturer of roofing coatings, roofing products, driveway coatings and specialty liquid paints , intended primarily for professional contractors for commercial and residential uses. The acquisition, which leverages ICP Group's wide range of construction solutions and global distribution network, creates one of the largest privately held coatings and coatings companies.
"The acquisition of Gardner-Gibson and the combination with ICP Group will help strengthen the product offering and distribution network of both companies," said Doug Mattscheck, CEO of ICP Group. “We were already strong individually and will be much stronger together as we expand our portfolio of coatings, adhesives and building envelope solutions. ICP Group welcomes Gardner-Gibson employees to the ICP family and looks forward to supporting the continued growth of both companies ”.
Based in Tampa, Florida, Gardner-Gibson is a leading supplier of liquid applied roofing coatings, roofing products, driveway sealants and specialty paints, and is recognized for its major brands. With manufacturing and distribution sites throughout the United States and Canada, Gardner-Gibson products are sold at major building supply retailers and distributors under the Gardner®, Black Jack®, APOC® and Dyco®.
The integration of Gardner-Gibson into ICP's Building Solutions Group brings together major brands and offers a wide range of products for roofs, building envelopes and flooring, primarily intended for installations. commercial and repair and maintenance applications.
“ICP Group has the infrastructure, networks and experience to take Gardner-Gibson to further success,” said Sean Hyer, CEO of Gardner-Gibson. “We look forward to this collaboration which will provide more value to our customers, business partners and distributors in the future. It is an exciting time for Gardner-Gibson as we enter this new era of product innovation and expansion with ICP ”.
Lazard Middle Market acted as financial advisor and Foley & Lardner LLP acted as legal advisor to Gardner-Gibson in connection with the transaction. Kirkland & Ellis LLP acted as legal counsel to ICP Group for the transaction, and JP Morgan, BMO, Antares Capital and Goldman Sachs provided financing.
For more information about ICP, visit www.icpgroup.com .
The ICP group is an Audax Private Equity holding company.
About ICP
Innovative Chemical Products (“ICP Group”) is a leading manufacturer of specialty coatings, adhesives and sealants. With its headquarters in Andover, Massachusetts, and numerous manufacturing sites around the world, ICP serves a number of end markets, including building envelope, packaging and construction. specialized printing. The ICP group is a private company which manufactures products belonging to several recognized specialty categories. For more information, visit www.icpgroup.com .
About ICP Building Solutions Group
ICP Building Solutions Group is the leading supplier of professional coatings, adhesives and waterproofing products for building envelopes and flooring. With dozens of leading brands across multiple industries and applications, ICP Building Solutions Group offers the industry's most comprehensive portfolios to building professionals around the world. For more information, visit www.icpgroup.com .
About Gardner-Gibson
Gardner-Gibson, Inc. serves professional contractors and DIY enthusiasts as a manufacturer of a full line of sealants, caulks and waterproof coatings for roofs and driveways. Based in Tampa, Florida, Gardner-Gibson operates manufacturing and distribution sites across North America. For more information on 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 fund manager, with offices in Boston, New York and San Francisco. Since its inception in 1999, the company has raised more than $ 27 billion in capital through its private equity and private debt activities. Audax Private Equity has invested more than $ 6 billion in more than 135 platforms and more than 900 complementary companies; the group is currently investing on its $ 3.5 billion, the sixth private equity fund. Through its rigorous “Buy & Build” approach, Audax aims to enable platform companies to make complementary acquisitions that stimulate revenue growth, optimize operations and significantly increase equity value. With more than 250 employees and more than 100 investment professionals, the company is a premier financial partner for North American mid-market companies. For more information, see the Audax Group website,www.audaxgroup.com .
