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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

Selection marks the fifth time a brand from California Sports Surfaces’ portfolio has been chosen for use in the Olympic Games

ANDOVER, Mass. – August 1, 2019 – California Sports Surfaces, an industry-leading manufacturer of sports surfaces and division of ICP Building Solutions Group (ICP BSG), announced today that its brand DecoTurf® has been selected as the tennis court surface for the 2020 Olympic Games in Tokyo.

The trusted low-maintenance DecoTurf® surface was chosen by the Tokyo Organizing Committee for the prestigious event, marking the fifth time California Sports Surfaces will provide the surface for the Olympic Games. DecoTurf® meets the standards set by the International Tennis Federation (ITF), and as such, has been used for events around the world. The full-depth resilient surface provides maximum comfort and consistent playability. The colors chosen for the event are two tones: US Open blue and US Open green.

“DecoTurf® is the official surface of the US Open as well as dozens of other high-profile international events around the world, and now we are proud to announce it as the surface of choice for the 2020 Olympic Games,” said Tom Magner, director of sales, California Sports Surfaces. “There’s no greater spotlight than the Olympic Games. We’re proud and excited to continue to support and advance the game of tennis on the global stage.”

DecoTurf’s multilayer cushioned tennis surface was chosen for its excellent flatness and homogeneity, ability to provide stable ball bounces and players’ intended ball speeds, strong durability and low maintenance requirements. The Ariake Tennis Park will feature DecoTurf® technology across all 12 match courts and eight practice courts. DecoTurf is also featured in the Utsubo Tennis Center located in Osaka, Japan, which is a designated training facility for Olympic and Paralympic athletes competing in Tokyo’s 2020 games.

In addition to the company’s selection for five Olympic Games, California Sports Surfaces’ trusted brands have also been chosen for use in six Paralympic Games, as well as every US Open since 1978; several NCAA Championships; the 2014 Asian Games in Incheon, South Korea; the 2008 Summer Olympics in Beijing, China; the Australian Open from 1988 through 2019; and other venues.

For more information about ICP Group, California Sports Surfaces or DecoTurf®, please visit californiasportssurfaces.com

 

About California Sports Surfaces

California Sports Surfaces (CSS) is the leading supplier of prestigious sports surfacing product lines, such as DecoTurf^®, Plexipave^®, Rebound Ace^®, Premier Sports Coatings^®, StreetScape and Plexitrac^®. As the first and only surface manufacturer to be awarded the status of International Tennis Federation (ITF) Recognition Elite Silver, CSS is the surface of multiple Olympic Games as well as other world-renowned events, including the US Open and the Australian Open. Several portable court systems are also available across the CSS product family.

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. ICP Building Solutions Group (ICP BSG) is a division of ICP Group. For more information, visit www.icpgroup.com.

Innovative Chemical Products (ICP Group) is a portfolio company of Audax Private Equity.

MEDIA CONTACT:
Jane Richards
jane.richards@akhia.com
330.463.5650