The 2024 PCI 25: No. 7 Innovative Chemical Products (ICP) Group
Image courtesy of ICP Group.
No. 7 Innovative Chemical Products (ICP) Group
Andover, MA
978/623.9980
CEO: Jay Doubman
2023 Coatings Sales: $700 million
Innovative Chemical Products (ICP) is a leading specialty coatings, adhesives, sealants, and chemicals manufacturer in North America. With operations headquartered in Andover, Massachusetts, and Tampa, Florida, manufacturing facilities across the United States, ICP serves multiple end markets, including building materials, specialty construction, and sports surfaces. ICP is privately held and manufactures products under several recognized brands.
A portfolio company of Audax Private Equity, ICP Group manufactures products under several recognized brands through two distinct business units. ICP Building Solutions Group focuses on product solutions dedicated to delivering high-performance professional products and services for building and construction applications.
Notes: In February of 2023, Stahl, a provider of coatings technologies headquartered in the Netherlands, acquired ICP Industrial Solutions Group (ISG), a leader in high-performance packaging coatings. ISG, a division of Innovative Chemical Products (the ICP Group), offers a comprehensive portfolio of high-performance coatings used primarily in packaging and labeling applications, notably in the resilient food and pharmaceutical sectors. ISG is mostly present in North America (close to 70% of sales), where it is a recognized technical leader. ISG was expected to report 2022 sales of approximately $140 million, and the acquisition will bring Stahl’s annual sales beyond the €1 billion mark, with an EBITDA margin above 20%.
In September 2023, ICP named Jay Doubman as its new President and Chief Executive Officer. Doubman rejoined ICP Group after previously serving as President of ICP’s Building Solutions Group as recently as 2021. Immediately prior to his appointment as CEO, Doubman served as Chief Operating Officer of Ecore International, a leading manufacturer of recycled-rubber indoor and outdoor surfaces.
Also in September, ICP celebrated the 70th anniversary for California Sports Surfaces, an ICP Group Brand. The brand is known for products such as Plexipave®, an athletic surfacing systems since 1953; Plexitrac®, an advanced track surface; and CoolTop® Color Pigment Technology, which helps to reduce on-court temperatures.
Source: Company contact, press releases
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