M&A Deal Summary

CHT Group Acquires ICM Products

On August 28, 2017, CHT Group acquired chemicals company ICM Products from Century Park Capital Partners, Akoya Capital Partners and Apogem Capital

Acquisition Highlights
  • This is CHT Group’s 1st transaction in the Chemicals sector.
  • This is CHT Group’s 1st transaction in the United States.
  • This is CHT Group’s 1st transaction in Michigan.

M&A Deal Summary

Date 2017-08-28
Target ICM Products
Sector Chemicals
Buyer(s) CHT Group
Sellers(s) Century Park Capital Partners
Akoya Capital Partners
Apogem Capital
Deal Type Add-on Acquisition

Target

ICM Products

Cassopolis, Michigan, United States
ICM Products, Inc. is a specialty silicone formulator specializes in the development of silicone polymers, emulsions, defoamers, and other specialty chemicals for use in a broad range of applications and end markets. ICM Products was founded in 1989 and is based in Cassopolis, Michigan.

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Buyer(S) 1

Buyer

CHT Group

Tubingen, Germany

Category Company
Sector Chemicals
DESCRIPTION

CHT Group is a speciality chemical company. CHT Group products improve the quality, the functionality and the performance of textiles, building materials, colours, coatings, papers and agrochemicals as well as cleaning and care products for the field of consumer goods industry.


DEAL STATS #
Overall 1 of 2
Sector (Chemicals) 1 of 2
Type (Add-on Acquisition) 1 of 2
State (Michigan) 1 of 1
Country (United States) 1 of 1
Year (2017) 1 of 2
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2017-08-30 ICM Silicones Group

Somerset, United Kingdom

ICM Silicones Group is a provider of high performance silicone emulsions and silicone elastomer applications in America. ICM Silicones Group consist of five separate operating subsidiaries: ICM Products Inc. in Cassopolis, Michigan; QSi LLC in Richmond, Virginia; ACC Silicones Ltd. in Bridgwater, UK; Treco Srl in Milan, Italy and ACC Silicones in Tianjin, China.

Buy -

Seller(S) 3

SELLER

Century Park Capital Partners

El Segundo, California, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 2000
PE ASSETS 1.6B USD
Size Large
Type Sector Agnostic
DESCRIPTION

Century Park Capital Partners (CPCP) is a private equity firm that partners with owners and managers to build companies. The Firm targets businesses generating sales of $20 to $100 million and EBITDA of $3 to $15 million. Century Park Capital specializes in facilitating owner liquidity and business expansion through minority and majority recapitalizations, growth financings, management led buyouts, and acquisition financings. CPCP looks to invest $10 to $40 million per transaction. Areas of interest include consumer products, food, education, business services, test/measurement equipment, medical components, pet supplies, packaging, automotive, chemicals, and third party logistics. CPCP was formed in 2000 and is based in Los Angeles with an additional office in Menlo Park, California.


DEAL STATS #
Overall 13 of 16
Sector (Chemicals) 2 of 2
Type (Add-on Acquisition) 6 of 7
State (Michigan) 1 of 1
Country (United States) 13 of 16
Year (2017) 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2017-08-04 Cirtec

Brooklyn Park, Minnesota, United States

Cirtec Medical is a provider of comprehensive medical product design and manufacturing solutions from concept through high-volume finished goods across all therapeutic categories. Cirtec Medical's technically-driven, 130-person team has particular expertise in minimally invasive systems, active and passive implants, and medical electronics. Cirtec Medical was founded in 1986 and is based in Brooklyn Park, Minnesota.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2018-07-31 Dominion Care

Richmond, Virginia, United States

Dominion Care is a provider of behavioral health services to children and young adults. Dominion Care provides a comprehensive array of professional services to Virginia’s children and young adults dealing with behavioral health, educational, and mental health challenges, as well as those with autism spectrum disorder and intellectual disabilities. Dominion Care was founded in 1999 and is based in Richmond, Virginia.

Buy -
DESCRIPTION

Akoya Capital Partners is a private equity firm focused on acquiring profitable US-based middle-market companies with $25 to $200 million in revenue. The Firm generally pursues privately-owned companies, especially family-owned businesses. Sectors of interest include chemicals, food, information services, consumer products, industrial products, and industrial distribution. Akoya Capital Partners was formed in 2005 and is based in Chicago, Illinois.


DEAL STATS #
Overall 6 of 11
Sector (Chemicals) 2 of 3
Type (Add-on Acquisition) 6 of 8
State (Michigan) 1 of 1
Country (United States) 6 of 11
Year (2017) 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2017-08-02 Databank IMX

Beltsville, Maryland, United States

Databank IMX LLC is a provider of outsourced imaging and information solutions, including document scanning, indexing, physical and electronic document storage, and software to manage information. The company provides these services to customers in the government, higher education, healthcare, energy and general industrial markets.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2017-11-01 Momentum Manufacturing Group

Georgetown, Massachusetts, United States

Momentum Manufacturing Group provides metal fabrication, machining, powder coating, and assembly operation in New England and serves as a contract manufacturer to a range of consumer and industrial customers. Operations include fabrication and machining with a broad array of process technologies serving diverse end markets. Momentum Manufacturing Group was founded in 1982 and is based in Georgetown, Massachusetts.

Buy -
SELLER

Apogem Capital

Chicago, Illinois, United States

Category Asset Manager
Founded 2001
PE ASSETS 39.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Apogem Capital is a diversified alternative investment manager and subsidiary of insurance provider, New York Life. Apogem manages a variety of investment strategies including private equity, private credit, and real assets. Within private equity, the Firm looks to make fund, direct, and secondary investments, as well as acquire GP stakes. Within its direct investing activity, Apogem targets mid-sized companies valued up to $250 million and will consider businesses throughout North America and Europe. Apogem Capital formed as the result of New York Life combining PA Capital, Madison Capital Funding, and Goldpoint Partners into one entity. Apogem Capital is based in New York City.


DEAL STATS #
Overall 24 of 52
Sector (Chemicals) 1 of 2
Type (Add-on Acquisition) 10 of 21
State (Michigan) 1 of 1
Country (United States) 24 of 52
Year (2017) 4 of 6
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2017-07-10 EnviroVac Holdings

Savannah, Georgia, United States

EnviroVac Holdings LLC is a provider of mission-critical cleaning and maintenance services to blue-chip customers. EnviroVac provides general industrial, chemical cleaning, environmental, digital inspections, fluid treatment and automated cleaning solutions to the power & utilities, pulp & paper, chemical, steel and manufacturing end industries. EnviroVac Holdings LLC was established in 1998 and is headquartered in Savannah, Georgia.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2017-09-21 Bacharach

Kensington, Pennsylvania, United States

Bacharach is a designer and manufacturer of gas test and measurement (“T&M”) instrumentation for commercial refrigeration and HVAC equipment, and also develops performance management software for its monitoring products. Bacharach was founded in 1909 and is based in Kensington, Pennsylvania.

Sell -