Innovative Chemical Products Buys Foam Sealant and Adhesives Maker Fomo Products.
M2 EQUITYBITES-April 12, 2016-Innovative Chemical Products Buys Foam Sealant and Adhesives Maker Fomo Products
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12 April 2016 - US-based specialty chemical company Innovative Chemical Products Group has closed the acquisition of US-based polyurethane foam sealant and adhesives products manufacturer Fomo Products, Inc., the company said.
Terms of the deal were not disclosed.
Fomo Products will be integrated into ICP Adhesives and Sealants, Inc. (ICP Adhesives), a division of the ICP Group.
ICP Adhesives is focused on growth, with its prior carve out acquisition of the Pressurized Polyurethane Foam Adhesives business (formerly known as Polyfoam Products, Inc.), and now the completion of the acquisition of Fomo Products.
Headquartered in Norton, Ohio, Fomo Products was founded in 1975 and is a manufacturer of low pressure one- and two-component polyurethane foam sealants, adhesives, pour-in-place and spray foam in pressurised, disposable, and refillable packaging. Additional markets include mine ventilation air sealant applications.
As part of the larger platform company, ICP Group, the ICP Adhesives division provides opportunity for continued growth, and added strength through raw material purchasing synergies, technological collaboration, and shared service.
With the addition of Fomo's extensive product offerings, patented technologies and talented employee base, ICP Adhesives further expands its leadership position in the polyurethane adhesives and sealants market.
Innovative Chemical Products Group is a portfolio company of Audax Private Equity. The Fomo transaction represents ICP's fourth acquisition.
ICP Adhesives and Sealants, Inc. (ICP Adhesives) ICP Adhesives is a division of ICP Group. ICP Adhesives is a manufacturer of low pressure one- and two-component polyurethane foam sealant and adhesives products in pressurized, disposable, and refillable packaging.
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|Publication:||M2 EquityBites (EQB)|
|Date:||Apr 12, 2016|
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