Audax-backed ICP buys botanical disinfectants maker Benefect

Innovative Chemical Products Group (ICP) has acquired Benefect, a Hamilton, Ontario-based producer of disinfectant and cleaning supplies for the environmental remediation industry.

No financial terms were released.

Founded in 1997 by CEO S. Samuel De Ath, Benefect developed its disinfectant products using botanical technology.

ICP, an Andover, Massachusetts-based maker of coatings, adhesives and sealants, said the acquisition adds to its portfolio of brands for the building and construction industry.

ICP was formed in 2015 with U.S.-based Audax Private Equity‘s merger of California Products Corp and Nicoat.

PRESS RELEASE

Innovative Chemical Products Acquires Benefect, a Leading Supplier of Botanical Disinfectants

With the acquisition, ICP Group expands ICP Building Solutions Group’s portfolio into sustainable, naturally derived antimicrobial and cleaning applications.

March 13, 2019

ANDOVER, Mass.–(BUSINESS WIRE)–Innovative Chemical Products (ICP Group) today announces the acquisition of Benefect, a world-recognized leader in next-generation botanical antimicrobials.

Benefect, a producer of disinfectant and cleaning supplies for the environmental remediation industry, is an important addition to ICP Building Solutions Group’s (BSG) growing portfolio of brands for the building and construction industry.

“The acquisition of Benefect provides new opportunities to strengthen our total offering to our customers and channel partners,” said Doug Mattscheck, CEO, ICP Group. “Benefect is a leader in the botanical space, offering a sustainable option for disinfecting and cleaning. We’re happy to add Benefect to the growing ICP BSG family.”

Benefect will join together with the Fiberlock brand of abatement and restoration solutions, enabling ICP BSG to offer a complete package of environmental solutions to its customers.

“The Benefect brand is well-aligned with our existing building envelope business unit and allows us to grow our portfolio of trusted solutions for our customers,” Mattscheck added.

Established in 2006, Benefect is the first government-registered hospital disinfectant using essential oils from plants. Today its botanical technology is used widely around the world to clean and kill germs with no compromise in strength.

“Benefect was developed as a result of not being able to find sensible disinfection products for my son who was born with only 10 percent of his immune system functioning,” said S. Samuel De Ath, founder and CEO, Benefect. “Today, Benefect products use nature’s way of cleaning and killing germs with no compromise in strength and without endangering human health. This acquisition solidifies the need for sustainable products and provides our customers with additional technologies and resources.”

ICP Group is a portfolio company of Audax Private Equity.

About ICP Building Solutions Group

ICP Building Solutions Group is a foremost supplier of professional products and solutions for building envelope, cementitious and sports surface needs. Comprising dozens of industry-leading brands across numerous industries and applications, ICP Building Solutions Group offers comprehensive portfolios to building professionals all over the globe, all backed by its exclusive MasterWorks training and education program. For more information, visit www.icpgroup.com.

About ICP Group

Innovative Chemical Products Group is a leading specialty chemical manufacturer in North America and provides coatings, adhesives and sealants globally. With operations headquartered in Andover, Massachusetts, and multiple manufacturing facilities around the world, ICP Group serves multiple end markets, including building materials, specialty construction, industrial, packaging, printing and sports surfaces. ICP Group is privately held and manufactures products under several recognized specialty groups. For more information, visit www.icpgroup.com.

Contacts
Jane Richards, akhia communications
513-439-9858
jane.richards@akhia.com