ICA is a manufacturer of expanded polystyrene (“EPS”) foam products for applications including building insulation, infrastructure construction, packaging, cold chain and other applications
Wynnchurch Capital announced that it has acquired Insulation Corporation of America (ICA). ICA is a manufacturer of expanded polystyrene (“EPS”) foam products for applications including building insulation, infrastructure construction, packaging, cold chain and other applications across the northeastern U.S. ICA will unite under one platform with Drew Foam Companies, Inc. (“Drew”) and Huntington Foam, both Wynnchurch portfolio companies.
Paul Ciolino, Partner at Wynnchurch, said, “The acquisition of ICA is a natural fit with Drew and Huntington and will strengthen our platform by expanding its reach into new, unserved markets. We believe ICA has a very bright future and are excited to support the Company’s future growth.”
Erin Murphy, Managing Director at Wynnchurch, said, “Drew, Huntington, and ICA will combine to form a market leading foam products provider focused on customer service and quality. We are excited about the future opportunities for this growing investment platform.”
Wynnchurch Capital is actively seeking investment opportunities for its $2.277 billion Fund V. In September, Wynnchurch made its first Fund V platform equity investment when it acquired Labrie Environmental Group, a leading manufacturer of refuse collection vehicles across North America. Other recent Wynnchurch investments include: Pennsylvania Machine Works, a fully integrated manufacturer of high pressure forged fittings and branch connections; Western Forge & Flange, a leading manufacturer of high-quality, specialty forgings and flanges; Clyde Industries, a leading designer and manufacturer of sootblowers, a critical component within recovery, power, and steam boilers; and Eastern Metal Supply, a leading value-added distributor of aluminum extrusions and related products.
Source: Company Press Release