Innovative Chemical Products Group

What Innovative Chemical Products Group does

Innovative Chemical Products Group (ICP Group) is a privately held, Audax Private Equity-backed specialty chemicals platform headquartered in Andover, Massachusetts, that manufactures coatings, adhesives, and sealants for the building envelope, industrial, packaging, printing, and sports surfaces end markets. The company was formed in January 2016 through the combination of California Products Corporation and Nicoat, and has since executed an aggressive buy-and-build strategy consolidating 20+ specialty brands across its two divisions: ICP Building Solutions Group (coatings, adhesives, sealants, roofing, waterproofing, sports surfacing, mold remediation, architectural paints) and ICP Industrial Solutions Group (UV/EB coatings, packaging and printing coatings). Notable proprietary technologies include low-pressure spray polyurethane foam using HFO blowing agents compliant with EPA SNAP, USDA-certified 100% biobased botanical disinfectant technology, cool-pigment CoolTop sports surfacing, Fiberlock IAQ 6000 mold-resistant coating, and patented Colorwise temperature-warning nozzles.

ICP Group operates across multiple U.S. manufacturing facilities (Andover, Tampa, Norton, Itasca, Waukegan, Tomball, Coral Springs, Flower Mound) and maintains regional headquarters in Melbourne, Australia for APAC, with active European expansion through a November 2025 Dutch distribution partnership. The company serves more than 33,000 customers across six continents via direct enterprise field sales teams, national distributors, independent dealer networks, and accredited applicator programs. Pricing is primarily quote-based and project-specific, with select published unit pricing (e.g., IAQ 6000 at approximately $0.76/square foot).

Revenue mechanics are predominantly one-time product sales rather than recurring subscriptions. The company operates a MasterWorks professional education community offering CEU coursework and training, which functions as a customer-acquisition and retention channel rather than a monetized offering. Sports surfaces generate premium-tier revenue via official partnerships with the ATP Tour (China Open, Rolex Shanghai Masters), US OPEN Pickleball Championships (extended through 2029), Laver Cup, ITF, and Tennis Australia, while FIBA Level 2 certification for the Rebound Ace Impact system opens the international basketball vertical. ICP's go-to-motion is enterprise field sales targeting building professionals, contractors, and industrial customers through dedicated divisions. Leadership transitioned in September 2023 with Jay Doubman succeeding founder Doug Mattscheck as President and CEO.

Name

Innovative Chemical Products Group

Legal name

Innovative Chemical Products Group

Website

https://icpgroup.com

Company type

Private

Founded year

2016

Operating status

Operating

Headcount range

501–1,000 employees

Short description

Innovative Chemical Products Group is a privately held, Audax Private Equity-backed specialty chemicals platform that manufactures coatings, adhesives, and sealants for building envelope, industrial, packaging, printing, and sports surface applications, serving 33,000+ customers across six continents via 20+ consolidated brands.

Ownership category

akta.pro rank

Product category

Specialty Coatings and Adhesives Manufacturing

NAICS

Paint, Coating, and Adhesive Manufacturing (3255)

SIC

Paints, Varnishes, Lacquers, Enamels & Allied Prods (2851), Adhesives & Sealants (2891)

akta.pro primary industry

Industrial & Protective Coatings (IMAEAGAB)

Keywords

• Specialty coatings manufacturing
• Industrial adhesives sealants
• Sports surface coatings
• Polyurethane foam products
• Architectural paint solutions

Headquarters

HQ city

Andover

HQ country

United States

HQ region

North America

Offices10 records

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

Supply Chain, Operations, Personnel, Technology or R&D, Marketing or Sales, Infrastructure

Revenue model

1. Specialty Coatings Sales: Formulation, manufacturing, and marketing of specialty coatings for architectural, specialty construction, building materials, packaging, printing, and sports surfaces end markets
2. Adhesives and Sealants Sales: Manufacturing and sale of polyurethane foam sealants, adhesives, and related products for construction and industrial applications
3. Sports Surface Systems: Sale of sports surfacing products and systems for tennis, basketball, pickleball, and other athletic applications
4. Disinfectant and Cleaning Products: Sale of botanical disinfectant and cleaning products for environmental remediation and facility management

Pricing tiers

Go-to-market motion1 record

Distribution channels5 records

Marketing channels5 records

Core offering

Innovative Chemical Products Group (ICP Group) is a specialty chemical manufacturer that formulates, manufactures, and sells professional coatings, adhesives, sealants, and polyurethane foam products for building envelope, construction, industrial, packaging, and sports surface applications. The company operates through multiple divisions including Building Solutions Group, Industrial Solutions Group, Construction, and Adhesives & Sealants, with a portfolio of brands such as California Paints, California Sports Surfaces, APOC, APF Polymer Surfaces, Fiberlock, Stain-Proof, Benefect, HandiFoam, Polyset, Pli-Dek, and ASTEC, serving more than 33,000 customers across six continents.

Product overview

Innovative Chemical Products Group (ICP Group) is a leading specialty chemical manufacturer providing coatings, adhesives, and sealants globally through two main divisions: ICP Building Solutions Group and ICP Industrial Solutions Group. The company operates a platform-plus-modules architecture with dozens of industry-leading sub-brands delivering specialized solutions. Core product categories include: sports surfacing systems (California Sports Surfaces® with DecoTurf®, Plexipave®, Rebound Ace®, CoolTop®); architectural and specialty coatings (California Paints, ENDURE®); roofing and waterproofing (APOC® with TUFF-GRIP™, Weather Armor, ASTEC®); concrete floor coatings (APF Polymer Surfaces with Terrazzo, Armor-Rez); mold remediation (Fiberlock® with IAQ 6000); sealers and cleaners (Stain-Proof®, Dry-Treat, Clear Traction Coating); botanical disinfectants (Benefect®); polyurethane foam products (HandiFoam®, Polyset®); and waterproofing solutions (Pli-Dek®). All products are backed by the MasterWorks professional education program. The company serves building materials, specialty construction, industrial, packaging, printing, and sports surfaces end markets.

Differentiator

Problem solved

Functional benefit

Brands

• ICP Building Solutions Group: Foremost supplier of professional products and solutions for building envelope, cementitious and sports surface needs.
• ICP Industrial Solutions
• ICP Adhesives & Sealants
• ICP Construction
• California Paints
• California Sports Surfaces
• APOC
• STAIN-PROOF
• Dry-Treat
• Fiberlock
• HandiFoam
• Polyset
• Pli-Dek
• Benefect
• ASTEC
• APF Polymer Surfaces
• DYCO
• MasterWorks
• Nicoat
• DecoTurf

Products and services

• California Sports Surfaces (DecoTurf, Plexipave, Rebound Ace, CoolTop) Premium sports surfacing systems for tennis, basketball, pickleball, roller hockey, and other athletic surfaces, used at professional tournaments including ATP, US Open Pickleball, Laver Cup, and ITF events.
• APOC Roofing and Waterproofing Systems Roofing and waterproofing brand offering liquid-applied roofing systems, sealants, adhesives, TUFF-GRIP synthetic roofing underlayment, Weather Armor air and moisture barriers, and other roofing products for commercial and residential applications.
• APF Polymer Surfaces Concrete Floor Coatings High-performance flooring solutions including Armor-Rez flooring systems, epoxy mortars, CastorCrete flooring systems, Terrazzo Polymer Flakes, Granitex, and VaporSolve moisture remediation solutions for commercial and industrial settings.
• Stain-Proof Sealers and Cleaners World-leading performance sealers, enhancers, specialty cleaners, and Clear Traction Coating for natural stone, concrete, ceramic, and other surfaces, providing long-lasting protection against staining and moisture damage.
• Fiberlock Mold Remediation and Abatement Solutions Professional mold remediation and abatement solutions including IAQ 6000 mold-resistant coatings, Recon Ultra odor-sealing technologies, and AfterShock fungicidal coatings for environmental remediation professionals.
• California Paints Architectural Paints and Stains Premium architectural interior and exterior paints and stains with 100-year history of innovation, craftsmanship and color excellence, including ENDURE quick-dry professional painter product line.
• Benefect Botanical Disinfectants First and only 100%-biobased disinfectant technology certified by USDA. Botanical antimicrobial products using essential oils for cleaning and germ-killing without harsh chemicals, serving facility management, healthcare, and environmental remediation.
• HandiFoam Polyurethane Foam Sealants and Adhesives Polyurethane foam products including low pressure one- and two-component foam sealants and adhesives, concrete lift foam, gasket foam, and insulating foam sealants used in construction and remediation applications.
• Polyset Roofing Adhesives Roofing adhesives including Board-Max two-component low-rise polyurethane foam adhesive and CR-20 for securing insulation and cover boards to roof decks, distributed through national roofing distributors and ICP partner roofing manufacturers.
• Pli-Dek Waterproofing Systems Cementitious waterproofing solutions for plywood or concrete substrates creating durable, high-performance decks, balconies, patios, and walkways. Holds California State Fire Marshal WUI listing (Listing No. 8110-2327:0500).
• ASTEC Fluid-Applied Membrane Systems Fluid-applied membrane systems for sustainable restoration of roofs, walls, tanks, piping, ductwork, and other industrial surfaces, providing professionals with high-quality restoration solutions.
• Intumescent Fire Protection Coatings (Fireshell, Heat Shedder, FireSafe, Structure Saver) Intumescent coatings providing fire and thermal protection for building envelope and fire protection applications, derived from proprietary fire and thermal products with military and private R&D heritage.
• Nicoat Specialty Packaging and Printing Coatings Specialty coatings, adhesives, primers and related products for packaging, labeling, and graphic arts end markets, combined with MinusNine Technologies UV/EB coatings.
• Master Coating Technologies Architectural Coatings Specialty architectural coating products focused exclusively on commercial applications, distributed through an independent dealer network for residential and commercial use.
• Rock-Tred Specialty Floor Coatings Specialty floor coatings including wall coatings, flexible membranes, joint sealants, and patching compounds.
• Stat-Rez ESD Nano Static Control Coating Next-generation static control coating that helps control static electricity and improve safety, ideal for datacom and military applications requiring static dissipative or conductive flooring.
• Street Ice Sports Surface Coating Smooth and resilient surface coating designed specifically for roller hockey, inline skating, and other wheeled sports, offering up to 50% greater abrasion resistance, UV resistance, mold and mildew resistance, and reduced VOC content.
• Stain-Proof Botanical Countertop Cleaner Streak-free, plant-based everyday cleaner for natural stone, quartz countertops, porcelain, terrazzo, concrete surfaces, and stainless steel appliances, containing no solvents, dyes, fragrances, or petrochemicals.
• APF Terrazzo Polymer Flakes Premium polymer resin flake line with mix of flake sizes in 19 curated color blends, offering enhanced slip resistance, chemical resilience, UV stability, and easy-to-clean surface.
• Rebound Ace Impact Polyurethane Flooring System Polyurethane indoor cushioning flooring system with FIBA Level 2 certification for professional and international basketball courts, featuring shock absorption, controlled flexibility, consistent ball rebound, reliable traction, and durability.
• ENDURE Quick-Dry Exterior Paint Quick-drying exterior paint designed for professional painters that provides rain-ready protection in one hour.

Quantifiable outcome

• 33,000+ customers served
• +2 more outcomes

Named customers9 records

Segments5 records

Ideal customer profiles5 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature5 records

Partnerships

Six partnerships are on record, tiered core, minor and regional.

• Minto US OPEN Pickleball ChampionshipscoreGTM or Marketing Partner · 1 January 2029California Sports Surfaces extends partnership with Minto US OPEN Pickleball Championships through 2029, with CoolTop named the new surface for the main championship court.
• DSL CoatingsminorStrategic or Co-development Partner · 20 November 2025APOC and DSL Coatings partner to launch fluid-applied roofing systems in the Netherlands, giving European contractors access to high-performance restoration products backed by local support.
• Tennis Pro Michael RussellregionalGTM or Marketing Partner · 23 October 2025California Sports Surfaces partners with former ATP player and elite coach Michael Russell (2024 ATP Coach of the Year) to provide perspective on surface innovation and serve as brand ambassador.
• International Tennis FederationcoreStrategic or Co-development PartnerICP Group partnership with ITF supporting tennis surface standards and providing technical expertise for international tennis events.
• Pickleball Australia AssociationregionalStrategic or Co-development PartnerCoolTop designated as the preferred playing surface for new pickleball courts throughout Australia, with CSS providing technical advice and access to network of accredited applicators.
• Tennis AustraliacoreStrategic or Co-development PartnerSteve Lock previously had 20 years of experience with Tennis Australia managing business and advancing sport before joining California Sports Surfaces.

Scale indicators7 records

Recent moves7 records

Expansion highlights6 records

Direct peers

• RPM International: Specialty coatings, sealants, and building solutions conglomerate with multiple operating segments including Tremco, Stonhard, and Carboline. Most directly comparable to ICP Group's portfolio of specialty construction-focused brands across coatings, sealants, and adhesives serving building envelope and industrial end-markets.
• H.B. Fuller: Global manufacturer of adhesives, sealants, and specialty chemical products serving construction, packaging, hygiene, and industrial markets. Directly comparable to ICP's Adhesives & Sealants division (Handi-Foam, Polyset) and broader industrial solutions business.
• Sika AG: Swiss-based specialty chemicals company focused on construction sealants, adhesives, waterproofing, concrete admixtures, and roofing systems. Closely mirrors ICP Building Solutions Group's product mix and contractor-led distribution model across construction chemicals.
• Mapei Corporation: Italian-headquartered global manufacturer of adhesives, sealants, and chemical products for the construction industry. Comparable to ICP's construction-focused product portfolio across flooring, waterproofing, concrete repair, and building envelope solutions.
• Carlisle Companies Incorporated: Diversified manufacturer with Carlisle Construction Materials division offering commercial roofing, waterproofing, and coatings systems that compete directly with ICP's APOC, Pli-Dek, and ASTEC roofing and waterproofing brands.
• Bostik (Arkema): Global adhesive specialist within Arkema serving construction, industrial, packaging, and consumer markets with a focused product portfolio. Comparable to ICP's Handi-Foam, Polyset, and broader Adhesives & Sealants division.
• Tremco Incorporated: Building envelope solutions provider (operates as a subsidiary of RPM International) offering sealants, waterproofing, air barriers, and roofing coatings. Closely overlaps with ICP's Construction division offerings including APOC fluid-applied roofing and Pli-Dek waterproofing.

Broad incumbents

• The Sherwin-Williams Company: Largest North American paint and coatings manufacturer with broad architectural, industrial, and specialty segments. Overlaps with ICP's California Paints, Fiberlock, and industrial coatings businesses but operates at vastly larger scale and broader distribution.
• PPG Industries: Global paints, coatings, and specialty materials company with industrial and architectural segments that directly overlap with ICP's portfolio, though PPG operates at much larger scale with global manufacturing, laboratory networks, and aerospace/automotive adjacencies.
• BASF Coatings: Global chemical major with significant industrial coatings, automotive finishes, and construction chemicals operations. Overlapping customer base with ICP in industrial coatings and construction chemicals but with a much broader portfolio and global reach.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks7 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/innovative-chemical-products-group

Compliance6 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles9 records

Subsidiaries19 records

Funding overview

Funding rounds1 record

Investors2 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A13 records

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Innovative Chemical Products Group