ICP Building Solutions Group Acquires Gardner-Gibson, a Leading Supplier of Roofing Products and Driveway Sealers

The collective strengths of two companies provide value to customers, professionals and end users

Innovative Chemical Products (“ICP Group” or “ICP”), a leading provider of specialty coatings, adhesives and building envelope solutions, today announced the acquisition of Gardner-Gibson and Sun Coatings (“Gardner-Gibson”), a leading manufacturer of liquid Applied roof coatings, roof products, pavement sealants and special paints are primarily used by professional contractors for commercial and private applications. The acquisition builds on the wide range of building solutions and global distribution network of the ICP Group and creates one of the largest private coatings and adhesives companies in North America.

“The acquisition and combination of Gardner-Gibson and the ICP Group will strengthen the product offering and distribution network for both companies,” said Doug Mattscheck, CEO of the ICP Group. “We have been strong individually and will grow stronger together as we expand our portfolio of coatings, adhesives and building envelope solutions. The ICP Group welcomes the Gardner-Gibson employees to the ICP family and looks forward to further growth for the combined companies support. “”

Gardner-Gibson, headquartered in Tampa, Florida, is a leading supplier of liquid-applied roofing coatings, roofing products, pavement sealers and specialty paints and is known for its industry-leading brands. With manufacturing and distribution facilities in the United States and Canada, Gardner-Gibson products are sold through leading retailers and distributors of building materials under the Gardner®, Black Jack®, APOC® and Dyco® brands.

The integration of Gardner-Gibson into ICP’s Building Solutions Group brings together leading brands and offers a wide range of products for roofing, building envelope and flooring applications, primarily serving commercial facilities as well as repair and maintenance applications.

The story goes on

“The ICP Group has the infrastructure, networks and experience to take Gardner-Gibson to a new level of success,” said Sean Hyer, CEO of Gardner-Gibson. “We look forward to working together and adding value to our customers, retail partners and distributors in the years to come. It is an exciting time to be with Gardner-Gibson as we enter this new era of innovation and product expansion with ICP. “”

Lazard Middle Market acted as financial advisor and Foley & Lardner LLP acted as legal advisor to Gardner-Gibson on the transaction. Kirkland & Ellis LLP acted as legal advisor to ICP Group on the transaction and JP Morgan, BMO, Antares Capital and Goldman Sachs provided the financing.

More information about ICP can be found at www.icpgroup.com.

The ICP Group is a portfolio company of Audax Private Equity.

About ICP

Innovative Chemical Products (“ICP Group”) is a leading manufacturer of specialty coatings, adhesives and sealants. Headquartered in Andover, Massachusetts and with multiple manufacturing facilities around the world, ICP serves multiple end markets including building envelopes, packaging and specialty printing. The ICP Group is privately owned and manufactures products under several recognized specialist groups. Further information is available at www.icpgroup.com.

About the ICP Building Solutions Group

The ICP Building Solutions Group is the leading supplier of professional coatings, adhesives and sealants for building envelopes and floors. The ICP Building Solutions Group comprises dozens of industry-leading brands in a wide variety of industries and applications, providing construction professionals around the world with the most comprehensive portfolios in the industry. Further information is available at www.icpgroup.com.

About Gardner-Gibson

Gardner-Gibson, Inc. serves professional contractors and DIY enthusiasts as a full-range supplier of roofing, driveway and waterproofing coatings, caulking and caulking compounds. Gardner-Gibson is headquartered in Tampa, Florida, and has manufacturing and sales facilities throughout North America. For more information on Gardner-Gibson products, project resources and application tips, visit www.gardner-gibson.com/.

About Audax Private Equity

Audax Group is a leading alternative investment manager with offices in Boston, New York and San Francisco. Since its inception in 1999, the company has raised over $ 27 billion in private equity and private debt businesses. Audax Private Equity has invested over $ 6 billion in more than 135 platforms and over 900 ancillary companies, and is currently investing $ 3.5 billion from its sixth private equity fund. Through its disciplined buy & build approach, Audax aims to support platform companies in making additional acquisitions that will drive sales growth, optimize operations and significantly increase equity value. With more than 250 employees and over 100 investment professionals, the company is a leading capital partner for North American midsize companies. For more information, please visit the Audax Group website at www.audaxgroup.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20210104005795/de/


Bridget Hagan
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