M&A Deal Summary

Audax Private Equity and Maranon Capital Acquire ICP

On January 19, 2016, private equity firm Audax Private Equity and mezzanine finance firm Maranon Capital acquired chemicals company ICP

Acquisition Highlights
  • This is Audax Private Equity’s 5th and Maranon Capital’s 3rd transaction in the Chemicals sector.
  • This is Audax Private Equity’s 88th and Maranon Capital’s 21st transaction in the United States.
  • This is Audax Private Equity’s 8th and Maranon Capital’s 3rd transaction in Massachusetts.

M&A Deal Summary

Date 2016-01-19
Target ICP
Sector Chemicals
Buyer(s) Audax Private Equity
Maranon Capital
Deal Type Consolidation

Target

ICP

Andover, Massachusetts, United States
ICP is a specialty chemical company engaged in the formulation, manufacturing, and marketing of coatings and adhesives. ICP was founded in 2016 and is based in Andover, Massachusetts.

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Buyer(S) 2

Buyer

Audax Private Equity

Boston, Massachusetts, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1999
PE ASSETS 19.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Audax Private Equity is a private equity firm focused on acquiring control positions in a variety of mid to large North American headquartered companies. The Firm segments its activities into lower middle-market and larger scale investing. Within its larger group, Audax targets profitable businesses valued up to $800 million and within its lower middle-market group, the Firm seeks companies valued up to $125 million. Sectors of interest include business services, consumer products/services, financial services, healthcare services, industrial services, software, and technology. Audax has a special interest in businesses that can benefit from a buy and build investment strategy for growth. Audax Private Equity was formed in 1999 and is based in Boston, Massachusetts.


DEAL STATS #
Overall 91 of 167
Sector (Chemicals) 5 of 6
Type (Consolidation) 4 of 5
State (Massachusetts) 8 of 13
Country (United States) 88 of 158
Year (2016) 4 of 11
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2016-01-19 California Products

Andover, Massachusetts, United States

California Products Corp. is a provider of branded, premium architectural interior and exterior paints and stains, tennis court and other sports surfaces coatings systems, and specialty abatement products.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2016-02-01 Preferred Compounding

Copley, Ohio, United States

Preferred Compounding Corp. is a manufacturer and supplier of proprietary and custom mixed rubber compounds with manufacturing plants in Tallapoosa, Ga.; Huntingdon, Tenn.; Fruithurst, Ala. Preferred Compounding Corp. was founded in 1973 and is based in Copley, Ohio.

Buy -
Buyer

Maranon Capital

Chicago, Illinois, United States

Investor Investor Investor Investor Investor


Category Mezzanine Finance Firm
Founded 2007
PE ASSETS 4.0B USD
Size Large
Type Sector Agnostic
DESCRIPTION

Maranon Capital LP is an investment firm that provides senior financing, mezzanine debt and equity co-investments for private equity backed and non sponsored middle market companies. Maranon seeks investments in financially healthy businesses with stable cash flows, diverse customers, and strong management. Prospective companies are valued between $30 and $150 million and generate $5 to $30 million of EBITDA. Maranon looks to invest $2 to $10 million for equity co-investments, $5 to $30 million for junior capital needs, and $10 to $50 million for senior debt requirements. Areas of interest include business services, healthcare services, distribution, manufacturing and consumer products/services. Funds typically support acquisitions, recapitalizations, refinancings, consolidations, ESOPs and growth capital needs. Maranon Capital LP was formed in 2007 and is based in Chicago. The Firm has additional offices in Birmingham, Michigan and South Bend, Indiana.


DEAL STATS #
Overall 22 of 38
Sector (Chemicals) 3 of 3
Type (Consolidation) 1 of 2
State (Massachusetts) 3 of 3
Country (United States) 21 of 37
Year (2016) 1 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2016-01-19 California Products

Andover, Massachusetts, United States

California Products Corp. is a provider of branded, premium architectural interior and exterior paints and stains, tennis court and other sports surfaces coatings systems, and specialty abatement products.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2016-03-15 Neptune Benson

Coventry, Rhode Island, United States

Neptune Benson, Inc. is a manufacturer of high quality water filtration and disinfection products for the recreational, industrial and municipal water markets.

Sell -