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ICP Construction Acquires Specialty Coatings Company

Monday, November 13, 2017

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A division of the Innovative Chemical Products Group (Andover, Massachusetts), ICP Construction, announced last week that it had acquired Master Coating Technologies, a manufacturer of specialty architectural coatings.

Doug Mattscheck / LinkedIn

Doug Mattscheck, CEO of ICP Group, called the acquisition "a new resource to further cement ICP Group’s reputation as an innovative leader."

Master Coating, which was founded in 1995 and headquartered in Eagan, Minnesota, will join the division that includes brands such as California Paints, FixALL, Storm System, Fiberlock, Dry-Treat, California Sports Surfaces and Rock-Tred.

“Master Coating Technologies is among the top five manufacturers of specialty coatings,” said Doug Mattscheck, CEO of ICP Group. “They have been on our radar for quite some time now. We’re thrilled to have their brilliant people––and technology––as a new resource to further cement ICP Group’s reputation as an innovative leader.”

The acquisition broadens ICP’s portfolio in the realm of architectural coatings with specialty products.

“We also see a great opportunity to accelerate growth,” said Zain Mahmood, President of ICP Construction. “Our existing independent dealer network is now even stronger with well-respected brands that have both residential and commercial applications.”

Both companies noted that no customers should experience any interruption.

“Through sharing best practices, scalable operational capacity, advanced technologies and talented leadership and employees, we can leverage both companies’ capabilities to deliver more value and better service to customers,” said Thomas Schaefer, President of Master Coating Technologies.

The terms of the deal were not disclosed.

   

Tagged categories: Acquisitions; Business matters; Business operations; Mergers

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