New Specialty Coatings Company Formed


California Products Corp. and Nicoat have been combined to form a new specialty chemical company called Innovative Chemical Products Group (ICP Group), according to a private equity firm.

Audax Private Equity announced Wednesday (Jan. 20) that the new company, based in Andover, MA, is engaged in the formulation, manufacturing and marketing of coatings and adhesives to construction and industrial markets.

Experienced Leader Tapped

Doug Mattscheck, the former CEO of Quest Specialty Chemicals, was appointed president and CEO of ICP Group.

“I am excited to join the ICP team,” said Mattscheck. “ICP Group represents a specialty chemical products platform, with leading brands, scalable operations, and talented leadership and employees. We look forward to building upon this success going forward through both organic growth and add-on acquisitions across the fast-growing coatings, adhesives, sealants, and elastomer (CASE) market verticals.”

Prior to Quest, Mattscheck was president and CEO of AGY, one of the world’s leading manufacturers of specialty glass fibers and yarns. Prior to AGY, Mattscheck was president of the Technical Fabrics Division of Saint-Gobain and held executive positions with H.B. Fuller, Schlegel Corporation, and DuPont.

ICP Group serves the architectural, specialty construction, packaging, printing and spot surfaces end markets. Brands include California Paints, Fiberlock, Storm System, Nicoat and Rebound Ace.


Tagged categories: Adhesive; California Products Co.; Coating Business; Coating chemistry; Coatings manufacturers; Coatings Technology; Coatings Technology; Construction chemicals; North America; Quest Specialty Chemicals

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