Innovative Chemical Products Acquires MinusNine Technologies
ANDOVER, Mass. — March 16, 2017 — Innovative Chemical Products (the ICP Group) has announced the acquisition of MinusNine Technologies, a leading formulator and manufacturer of UV/EB coatings, adhesives, primers and specialty products for graphic arts and industrial applications. MinusNine, headquartered in Birdsboro, PA, will be integrated into ICP Industrial, Inc., one of the three divisions of the ICP Group.
ICP Industrial currently manufactures industry-leading Nicoat coatings and adhesives, and with the successful completion of the acquisition of MinusNine, is poised to provide even broader offerings to the packaging, labeling, graphic arts, and industrial markets.
“We are enthusiastic to bring MinusNine into the ICP Industrial family,” said Paul Grzebielucha, President of ICP Industrial. “The opportunity for continued growth and our complementary cultures make this an ideal fit. Through sharing best practices, scalable operational capacity, advanced technologies and talented leadership and employees, we can leverage both companies’ capabilities to deliver great value to our customers and increased opportunities to our team members.”
As part of the larger platform company, ICP Group, ICP Industrial provides opportunity for continued growth and added strength through raw material purchasing synergies, technological collaboration, and shared service. With the addition of MinusNine’s extensive product offerings, advanced technologies and talented employees, the ICP Group further expands its leadership position in the Coatings, Adhesives, Sealants and Elastomers (CASE) markets.
“We are excited to welcome MinusNine to the ICP team,” said Doug Mattscheck, CEO of the ICP Group. “Our combined brands, products and technologies propel us into a new chapter for our Industrial division. Additionally, this acquisition will strengthen our ability to support our customers through innovation, as we continue to lead the specialty coatings and adhesives markets.”
Innovative Chemical Products (the ICP Group) is a portfolio company of Audax Private Equity.