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SPF Companies Icynene, Lapolla Finalize Merger

Tuesday, December 5, 2017

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Spray polyurethane foam manufacturers Icynene U.S. Holding Corp. (Mississauga, Ontario) and Lapolla Industries Inc. (Houston) have announced the completion of their merger.

Icynene’s acquisition of Lapolla, which was initially reported in October, is valued at approximately $160 million, and the companies will now be operating under the name Icynene-Lapolla.

Icynene

Spray polyurethane foam manufacturers Icynene U.S. Holding Corp. (Mississauga, Ontario) and Lapolla Industries Inc. (Houston) have announced the completion of their merger.

“We are excited about the completion of the merger. The two businesses have complementary SPF products and outstanding customer service, and both have a strong commitment to innovation,” said Mark Sarvary, Chief Executive Officer of Icynene-Lapolla.

Icynene is known for its commercial and residential SPF product lines, which include the Classic and ProSeal lines. While Lapolla also distributes and manufactures SPF lines (such as Foam-Lok), it is also known for its roofing solutions (Thermo-Flex) and restoration coatings (Wall-Lok).

At the time of the merger’s announcement, Doug Kramer, the President and CEO of Lapolla, said the company had been looking for the right move.

"During the past several months, Lapolla conducted an extensive review of strategic opportunities to enhance value for our stockholders and Lapolla is happy to have reached this agreement with Icynene, which delivers a significant premium to Lapolla's stockholders," said Kramer, who is now the president of Icynene-Lapolla.

"This is an exciting time in the insulation industry and Lapolla couldn't be more pleased to join with Icynene, a combination that brings together two leading SPF brands, and work together to bring downstream value to Lapolla's and Icynene's mutual associates, team members, customers and consumers.”

   

Tagged categories: Acquisitions; Business matters; Business operations; Icynene; Lapolla Industries; Mergers

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