ICP Building Solutions Group Acquires Gardner-Gibson

Innovative Chemical Products (ICP), a manufacturer and distributor of specialty coatings, adhesives and building envelope solutions, announced today that it has acquired Gardner-Gibson and Sun Coatings, a manufacturer of liquid-applied roof coatings, roofing products, driveway sealers and specialty paints primarily serving professional contractors for commercial and residential applications. The acquisition builds upon ICP Group’s extensive line of building solutions and global distribution network and creates one of the largest privately held coatings and adhesives companies in North America.

“The Gardner-Gibson acquisition and combination with ICP Group will strengthen the product offerings and distribution network for both companies,” said Doug Mattscheck, CEO, ICP Group. “We were strong individually and will be even stronger together as we enhance our portfolio of coatings, adhesives and building envelope solutions. ICP Group welcomes the Gardner-Gibson employees to the ICP family and looks forward to supporting the continued growth of the combined businesses.”

Based in Tampa, Florida, Gardner-Gibson is a provider of liquid-applied roof coatings, roofing products, driveway sealers and specialty paint, and is recognized for its industry-leading brands. With manufacturing and distribution facilities across the United States and Canada, Gardner-Gibson’s products are sold in leading retailers and building supply distributors under the Gardner, Black Jack, APOC and Dyco brands.

The integration of Gardner-Gibson into ICP’s Building Solutions Group unites premier brands to offer a wide range of products for roofing, building envelope and flooring applications primarily serving commercial facilities and repair and maintenance applications.

“ICP Group has the infrastructure, networks and experience to take Gardner-Gibson to new levels of success,” said Sean Hyer, CEO, Gardner-Gibson. “We’re looking forward to working together and delivering more value to our customers, retail partners and distributors for years to come. It’s an exciting time to be at Gardner-Gibson as we enter this new era of innovation and product expansion with ICP.”

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

For more information about ICP, visit www.icpgroup.com.

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