Hi-Tech Coatings and its products will become part of ICP Industrial Solutions Group (ISG), strengthening and expanding its portfolio of innovative products

ANDOVER, Mass. – Dec. 2, 2019 – Innovative Chemical Products Group (ICP Group) today announces that it has acquired Hi-Tech Coatings, a worldwide leading developer and manufacturer of high-performance coatings for the packaging and commercial printing industries, from Heidelberger Druckmaschinen AG (Heidelberg).

Hi-Tech Coatings develops and produces more than 1,000 environmentally compatible products and formulations, primarily water-based and UV-based coatings. The transaction also established a strategic partnership between Heidelberg and ICP Group to ensure Heidelberg’s future sales of its coating portfolio to its customers.

“We’re thrilled to have acquired Hi-Tech Coatings, because its industry leadership will only strengthen and expand ICP ISG’s portfolio of innovative products,” said Doug Mattscheck, CEO, ICP Group. “By uniting the highly skilled, well-trained and experienced people of ICP and Hi-Tech Coatings, our company is stronger and so is our unwavering dedication to serving our customers with integrity and customer service.”

Hi-Tech Coatings, whose offerings will become part of ICP Group’s Industrial Services Group (ISG), has provided professionals with high-quality coatings for nearly 30 years. The acquisition provides ICP ISG with two significant opportunities—it expands its product offerings within the high-performance water-based and ultraviolet-curable coatings, and it diversifies and expands its international customer base in Europe, the Middle East and Asia-Pacific regions.

Hi-Tech Coatings will also expand ICP Group’s manufacturing footprint by adding new production facilities in the United Kingdom, the Netherlands and an additional facility in the United States (Michigan). Finally, it will expand ICP ISG’s exposure to high-growth, global-packaging end markets.

“We are excited to welcome the employees of Hi-Tech Coatings to the ICP family and to enter into this long-term, strategic partnership with Heidelberg,” Mattscheck added. “We’re looking forward to providing Heidelberg and Hi-Tech Coatings’ customers with exceptional service, an expanded product offering, and an expanded commitment to innovation and growth going forward.”

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About ICP Industrial Solutions Group
ICP Industrial Solutions Group (ISG) combines two market-leading technology companies to form a high-performance portfolio of aqueous, UV/LED/EB, silicone, specialty coating and adhesive technologies. The strength of our technology group leads the way with innovative, customized products, superior customer service, and outstanding quality. For more information, visit www.icpindustrial.com.

About ICP Group
Innovative Chemical Products (ICP Group) is a leading specialty chemical manufacturer in North America and provides coatings, adhesives and sealants globally. With operations headquartered in Andover, Massachusetts, and multiple manufacturing facilities around the world, ICP Group serves multiple end markets, including building materials, specialty construction, industrial, packaging, printing and sports surfaces. ICP Group is privately held and manufactures products under several recognized specialty groups. For more information, visit www.icpgroup.com.

ICP Group is a portfolio company of Audax Private Equity.

About Hi-Tech Coatings

Hi-Tech Coatings—a worldwide leading developer and manufacturer of high-performance coatings for the packaging and commercial printing industries—has provided professionals with high-quality coatings for nearly 30 years. For more information, visit www.hitechcoatings.net.

 

The transaction is expected to be finalized in 2019, at which point Hi-Tech Coatings and its products will become part of ICP Industrial Solutions Group (ISG).

ANDOVER, Mass. – Nov. 20, 2019 – Innovative Chemical Products Group (ICP Group) today announces that it has entered into a purchase agreement to acquire Hi-Tech Coatings, a worldwide leading developer and manufacturer of high-performance coatings for the packaging and commercial printing industries, from Heidelberger Druckmaschinen AG (Heidelberg).

ICP Group expects the transaction to be finalized by the end of 2019, at which point Hi-Tech Coatings will become part of ICP Industrial Solutions Group (ISG).

“When the sale is finalized, ICP ISG will have additional services, resources and solutions to offer not only its own customers, but those of Hi-Tech Coatings as well,” said Doug Mattscheck, CEO, ICP Group. “The acquisition will also allow us to expand our product offerings within the high-performance water-based and ultraviolet-curable coatings and expand our international customer base in Europe, the Middle East and Asia-Pacific regions.”

Hi-Tech Coatings has provided professionals with high-quality coatings for nearly 30 years. Once acquired, Hi-Tech Coatings will also expand ICP Group’s manufacturing footprint by adding new production facilities in the United Kingdom, the Netherlands and an additional facility in the United States (Michigan).

The Hi-Tech Coatings acquisition also will expand ICP ISG’s exposure to high-growth global-packaging end markets.

 

About ICP Industrial Solutions Group

ICP Industrial Solutions Group (ISG) combines two market-leading technology companies to form a high-performance portfolio of aqueous, UV/LED/EB, silicone, specialty coating and adhesive technologies. The strength of our technology group leads the way with innovative, customized products, superior customer service, and outstanding quality. For more information, visit www.icpindustrial.com.

About ICP Group

Innovative Chemical Products (ICP Group) is a leading specialty chemical manufacturer in North America and provides coatings, adhesives and sealants globally. With operations headquartered in Andover, Massachusetts, and multiple manufacturing facilities around the world, ICP Group serves multiple end markets, including building materials, specialty construction, industrial, packaging, printing and sports surfaces. ICP Group is privately held and manufactures products under several recognized specialty groups. For more information, visit www.icpgroup.com.

ICP Group is a portfolio company of Audax Private Equity.

About Hi-Tech Coatings

Hi-Tech Coatings—a worldwide leading developer and manufacturer of high-performance coatings for the packaging and commercial printing industries—has provided professionals with high-quality coatings for nearly 30 years. For more information, visit hitechcoatings.net.

With the acquisition, ICP Group expands ICP Building Solutions Group’s portfolio of performance coatings and design-driven interior products.

ANDOVER, Mass. – Sept. 16, 2019 – Innovative Chemical Products (ICP Group) today announces the acquisition of IdeaPaint, creators and world-recognized leaders of the high-performance dry erase paint category.

“We are pleased to announce the acquisition of IdeaPaint by the ICP Group family of companies, as the business has a strong track record of success in the market and allows us to provide an even greater variety of trusted, proven products to our customers and distribution partners,” said Doug Mattscheck, CEO, ICP Group. “IdeaPaint created the high-performance dry erase paint category out of a need for new ways to collaborate, brainstorm and share ideas. They turned a simple concept into a globally recognized brand. That level of innovation and drive fits perfectly alongside ICP Building Solutions Group’s (BSG’s) growing family of specialty architectural coatings.”

Introduced in 2008, IdeaPaint is the world’s first performance dry erase coating. IdeaPaint rolls on as easily as a traditional interior paint but will transform virtually any smooth surface into an erasable canvas for dry erase markers. Since 2008, IdeaPaint has established partnerships with the leading architecture and design firms around the world, expanded distribution to over 45 countries, completed over 200,000 installations, and is proud to call many of the world’s largest and most innovative companies their longstanding customers.The company also produces related products, such as wallcoverings, magnetic coatings, markers and cleaning supplies.

Now an internationally recognized brand celebrated by the likes of The Wall Street Journal, Mashable, Fast Companyand CNBC, IdeaPaint is an important addition to ICP BSG’s portfolio of innovative products for the architecture and design community.

IdeaPaint will be positioned with ICP BSG’s diversified offering of high-performance specialty coatings, enabling ICP BSG to offer a more robust package of coating solutions to the architecture and design community. “IdeaPaint is well-aligned with our existing Specialty Coatings business unit and allows us to further grow our portfolio of innovative solutions,” Mattscheck added.

IdeaPaint exists to enable everyone to reach their creative and productive potential. For over a decade, the brand has been expanding its innovative product line that gives people the space they need to conveniently engage with their ideas. This acquisition ensures that IdeaPaint’s offerings will keep evolving as the brand continues to bring great products to market for many years to come.

 

About ICP Building Solutions Group
ICP Building Solutions Group (BSG) is a foremost supplier of professional products and solutions for building envelope, cementitious and sports surface needs. Comprising dozens of industry-leading brands across numerous industries and applications, ICP Building Solutions Group offers comprehensive portfolios to building professionals all over the globe, all backed by its exclusive MasterWorks training and education program. For more information, visit www.icpgroup.com.

About ICP Group
Innovative Chemical Products (ICP Group) is a leading specialty chemical manufacturer in North America and provides coatings, adhesives and sealants globally. With operations headquartered in Andover, Massachusetts, and multiple manufacturing facilities around the world. ICP Group serves multiple end markets, including building materials, specialty construction, industrial, packaging, printing and sports surfaces. ICP Group is privately held and manufactures products under several recognized specialty groups. For more information, visit www.icpgroup.com.

ICP Group is a portfolio company of Audax Private Equity.

About IdeaPaint

IdeaPaint exists to inspire and encourage everyone, every day to reach their creative and productive potential. The company was founded by John Goscha in 2002 at Babson College in Wellesley, Massachusetts. The brand’s industry-leading dry erase paints and wallcoverings transform virtually any smooth surface into an erasable canvas. IdeaPaint is the most trusted brand in dry erase with over 200,000 successful installations in offices, schools and homes around the world. For more information, visit www.ideapaint.com.

Media Contact:

Jane Richards, akhia communications
513-439-9858
jane.richards@akhia.com