22-Jan-2016 - 3M

3M to sell pressurized polyurethane foam adhesives business

3M today that it has entered into an agreement to sell to Innovative Chemical Products Group (ICP Group), a portfolio company of Audax Private Equity, the assets of 3M’s Pressurized Polyurethane Foam Adhesives business (formerly known as Polyfoam), which is part of 3M’s Industrial Adhesives and Tapes Division. Terms of the transaction were not disclosed.

3M’s Pressurized Polyurethane Foam Adhesives business is a provider of pressurized polyurethane foam adhesive formulations and systems into the residential roofing, commercial roofing and insulation and industrial foam segments in the United States, with annual sales of approximately $20 million. The product offering includes a two-component roof tile adhesive that professional roofers use to attach concrete or clay roof tile. The business also offers a polyurethane foam adhesive used for adhering the fleece back roofing membrane and insulation board in low-slope roofing applications.

“After strategic portfolio review, we decided to exit this business and focus on our core adhesives, sealants, and tapes businesses,” said Ty Silberhorn, vice president and general manager, 3M Industrial Adhesives and Tapes Division. 3M applies its adhesive technology to solutions for bonding, protecting, masking, enhancing, shielding, damping, splicing, reinforcing, color coding, and case sealing applications.

“The Pressurized Polyurethane Foam Adhesives business will be a new, strategic business unit within ICP Group, focused on industrial and construction applications. This acquisition further extends the market, technology, and customer base of our business and gives us a foothold into polyurethane technologies. We welcome the entire Pressurized Polyurethane Foam Adhesives team and look forward to working with them to accelerate growth of the business through investments in products, sales and marketing, and acquisitions,” said Doug Mattscheck, president and chief executive officer of ICP Group.

ICP Group plans to maintain the Pressurized Polyurethane Foam Adhesives business’ existing operations in Tomball, Texas, and Coral Springs, Fla., as a stand-alone business unit within the specialty chemicals platform.

The transaction is expected to close during the first quarter of 2016, subject to customary closing conditions. Approximately 20 3M employees that support the business are expected to join ICP Group in conjunction with the sale.

Facts, background information, dossiers
  • acquisitions
More about 3M
  • News

    3M prevails in patent infringement action against China-Based Qingdao Summit Industrial

    The District Court of Frankfurt, Germany, has ordered a preliminary injunction against China-based Qingdao Summit Industrial Co., Ltd. ("Summit") for infringement of the German portion of 3M's European patent EP 0,954,381 B2. This patent relates to 3M’s PPS™ technology that enables the effi ... more

    3M to sell its temporary protective films business to Pregis LLC

    3M announced that it has entered into an agreement to sell the assets of its temporary protective films business to Pregis LLC. 3M’s temporary protective films business is a provider of adhesive-backed temporary protective films used in a broad range of industries, including automotive, app ... more

    3M and IBM to Develop New Types of Adhesives to Create 3D Semiconductors

    3M and IBM announced that the two companies plan to jointly develop the first adhesives that can be used to package semiconductors into densely stacked silicon “towers.” The companies are aiming to create a new class of materials, which will make it possible to build, for the first time, co ... more

  • Companies

    3M Deutschland GmbH

    Manufacturing products such as respirators, hearing, head and face protection. more

    3M Technical Ceramics, Zweigniederlassung der 3M Deutschland GmbH

    3M is a global multi-technology company. 3M is changing the world through intelligent new solutions and the optimization of existing products and processes. 3M Technical Ceramics in Kempten is a leading global supplier of advanced ceramic products and a specialist in the field of nickel d ... more

    3M

    Serving customers around the world, the people of 3M use their expertise, technologies and global strength to lead in major markets, including consumer and office; display and graphics; electronics and telecommunications; safety, security and protection services; health care; industrial and ... more