3M closes sale of Pressurized Polyurethane Foam

3M said Monday that it completed the sale of Pressurized Polyurethane Foam Adhesives to Innovative Chemical Products Group, a portfolio company of Audax Private Equity. The deal was announced in January.

PRESS RELEASE

ST. PAUL, Minn.–(BUSINESS WIRE)–3M today announced that it has completed the sale of the assets of its Pressurized Polyurethane Foam Adhesives business (formerly known as Polyfoam) to Innovative Chemical Products Group (ICP Group), a portfolio company of Audax Private Equity.

The Pressurized Polyurethane Foam Adhesives business provides pressurized polyurethane foam adhesive formulations and systems for the residential roofing, commercial roofing and insulation and industrial foam segments in the United States. Products include a two-component roof tile adhesive that professional roofers use to attach concrete or clay roof tile, and a polyurethane foam adhesive used for adhering the fleece back roofing membrane and insulation board in low-slope roofing applications.
The business was part of 3M’s Industrial Adhesives and Tapes Division, which will continue to focus on its core adhesives, sealants, and tapes businesses. 3M applies its adhesive technology to solutions for bonding, protecting, masking, enhancing, shielding, damping, splicing, reinforcing, color coding, and case sealing applications.
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