ICP Construction, a division of Innovative Chemical Products Group (the ICP Group), announced today the acquisition of Master Coating Technologies, a leading manufacturer of specialty architectural coatings.
ICP Group is a leading specialty platform company in the coatings, adhesives, sealants and elastomers (CASE) markets. The company will join the current ICP Construction division, which includes market-leading brands California Paints, FixALL, Storm System, Fiberlock, Dry-Treat, California Sports Surfaces, and Rock-Tred.
Master Coating Technologies was founded in 1995 and is headquartered out of Eagan, MN. Both companies are well respected industry leaders and have a common interest in innovation and developing new technologies.
“We are thrilled to have the brilliant minds at Master Coating Technologies as a new resource. This is a terrific opportunity to expand the technologies offered by ICP Construction and accelerate growth by bringing new products to our existing independent dealer network for residential and commercial applications,” said Zain Mahmood, Division President of ICP Construction.
The acquisition broadens ICP Construction’s portfolio of architectural coatings with specialty products focused exclusively on commercial applications. Recently, architects and designers have been requesting specific brands, like Zolatone, Scuffmaster, MDC, Bellagard, and Clear-Erase. Now ICP Construction has more opportunities to meet those needs.
Thomas Schaefer, former President of Master Coating Technologies, is optimistic about the future. “Through sharing best practices, scalable operational capacity, advanced technologies and talented leadership and employees, we can leverage both companies’ capabilities to deliver more value and better service to customers.”
ICP Construction and Master Coating customers will not experience any interruption in service as a result of the acquisition.
Innovative Chemical Products (the ICP Group) is a portfolio company of Audax Private Equity.
150 DASCOMB ROAD | ANDOVER, MA 01810 | 978-623-9985 | ICPGROUP.COM
About ICP Construction, a division of the ICP Group A global leader in the paints and coatings industry, ICP Construction is committed to providing the highest-quality paints, coatings, sports surfaces and environmental remediation solutions for the architectural and building industries. Our family of award-winning brands provides innovative products, support and dedication to our customers. Our products set the standard in their markets, and our continued investment in advanced technology and delivery offers unparalleled value to our customers. Visit www.icp-construction.com for more information.
About ICP Group
About ICP Group Innovative Chemical Products (the ICP Group) is a leading specialty chemical company engaged in the formulation, manufacturing, and marketing of coatings, adhesives, sealants and elastomers (CASE). With operations headquartered in Andover MA, and divisional headquarters in Massachusetts, Ohio and Illinois, ICP serves multiple end markets, including: OEM, industrial, building materials, packaging, printing, specialty construction, and sports surfaces. ICP Group is privately held and manufactures products under several recognized, specialty brands. For more information on the Construction, Adhesives & Sealants, and Industrial divisions of the ICP Group, visit www.icpgroup.com.