3M’s Pressurized Polyurethane Foam Adhesives business (Polyfoam) has been sold to Innovative Chemical Products Group (ICP Group), a company in the Audax Private Equity portfolio. Previously part of 3M’s Industrial Adhesives and Tapes Division, the Pressurized Polyurethane Foam Adhesives business will now form part of ICP Group’s product portfolio, while 3M continues to focus on tapes, adhesives and sealants.
The product range transferred to ICP consists of pressurized polyurethane foam adhesives intended for use by construction professionals in roofing and insulation of buildings. A polyurethane foam adhesive for bonding insulation board to roofing membrane for low-slope roofs is among the products in this range which also includes a two-component adhesive for clay or concrete roof tiles.
ICP already produces architectural coatings, sports surface coatings, and specialty coatings for the construction industry.