M&A Deal Summary

ICP Acquires Choice Adhesives

On April 19, 2021, ICP acquired chemicals company Choice Adhesives from Merit Capital Partners

Acquisition Highlights
  • This is ICP’s 8th transaction in the Chemicals sector.
  • This is ICP’s 11th transaction in the United States.
  • This is ICP’s 1st transaction in Ohio.

M&A Deal Summary

Date 2021-04-19
Target Choice Adhesives
Sector Chemicals
Buyer(s) ICP
Sellers(s) Merit Capital Partners
Deal Type Add-on Acquisition

Target

Choice Adhesives

Cincinnati, Ohio, United States
Choice Adhesives is a manufacturer and distributor of specialty, custom formulated industrial adhesives. Choice manufactures solvent‐ and water‐borne adhesives for a wide variety of end-market applications, including high-pressure laminates, building products, footwear, plastics, flooring, belting, and foam fabrication, among others. Choice Adhesives is based in Cincinnati, Ohio.

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Buyer(S) 1

Buyer

ICP

Andover, Massachusetts, United States

Category Company
Founded 2016
Sector Chemicals
DESCRIPTION

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.


DEAL STATS #
Overall 14 of 14
Sector: Chemicals M&A 8 of 8
Type: Add-on Acquisition M&A Deals 8 of 8
State: Ohio M&A 1 of 1
Country: United States M&A 11 of 11
Year: 2021 M&A 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-01-04 Gardner-Gibson

Tampa, Florida, United States

Gardner-Gibson, Inc. is a manufacturer of liquid-applied roof coatings, roofing products, driveway sealers and specialty paints primarily serving professional contractors for commercial and residential applications. Gardner-Gibson is based in Tampa, Florida.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2023-02-06 ICP Industrial Solutions Group

Itasca, Illinois, United States

ICP Industrial Solutions Group is a provider of a portfolio of aqueous, UV/LED/EB, silicone, specialty coating and adhesive technologies. ICP Industrial Solutions Group is based in Itasca, Illinois.

Sell -

Seller(S) 1

SELLER

Merit Capital Partners

Chicago, Illinois, United States

Investor Investor Investor Investor Investor


Category Mezzanine Finance Firm
Founded 1993
PE ASSETS 2.5B USD
Size Large
Type Sector Agnostic
DESCRIPTION

Merit Capital Partners is a private investment firm that targets investments in middle market manufacturing, distribution, and service based businesses. Merit looks for companies generating at least $20 million in sales and at least $4 million in EBITDA. Merit can provide both equity and junior capital financing and looks to commit at least $15 million per transaction. Prospective transaction situations include management buyouts, recapitalizations, growth financings, divestitures, unsponsored transactions, and ESOPs. Merit Capital will not invest in start-ups, turnarounds, real estate, specialty retail, or oil/gas opportunities. Merit Capital was originally known as William Blair Mezzanine Capital and became independent in 2004. Merit Capital Partners was formed in 1993 and is based in Chicago, Illinois.


DEAL STATS #
Overall 47 of 56
Sector: Chemicals M&A 4 of 5
Type: Add-on Acquisition M&A Deals 26 of 31
State: Ohio M&A 1 of 1
Country: United States M&A 47 of 55
Year: 2021 M&A 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2020-12-03 Storage Solutions

Westfield, Indiana, United States

Storage Solutions is a warehouse integrator that provides solutions for material handling and industrial storage equipment, including design, equipment procurement, and installation. Storage Solutions was founded in 1978 and is based in Westfield, Indiana.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-07-16 Liberty Group

Houston, Texas, United States

Liberty Group provides temporary staffing, executive search, and employee screening services to clients in the multifamily residential real estate industry. Liberty Group was founded in 1977 and is based in Houston, Texas.

Buy -