CHT Group acquires ICM Silicones

By Deanna Utroske

- Last updated on GMT

CHT Group acquires ICM Silicones

Related tags Formulation

The specialty silicones manufacturer, founded by a former Dow chemist, has grown over the years in part thanks to several of its own acquisitions. Now owned by CHT Group, the company is likely to expand its business even further.

Century Park Capital Partners most previously owned ICM Silicones. And under that firm’s leadership ICM Silicones acquired Path Silicones and then the Amber Chemical Company. That second deal extended ICM’s reach substantially, bringing facilities around the world to the company: Quantum Silicones in Richmond, Virginia; Siovation in Atlanta, Georgia; ACC Silicones in the UK; Treco in Milan, Italy; and Amber Silicones in Tianjin, China.

“ICM has grown into a truly global silicones player that can meet the formulation needs of the industry’s most demanding end customers,”​ remarks Martin Sarafa, managing partner with Century Park Capital Partners, in a media release about the acquisition.

“We are proud to have helped build one of the largest independent silicone specialty chemical formulators in the world,” ​adds Sarafa.

Looking ahead

As part of the German specialty chemicals company CHT, ICM Silicones is expected to continue growing.

CHT is an ideal home for ICM and we believe that the Company will flourish with its new ownership group,”​ Guy Zaczepinski, also a managing partner with Century Park Capital Partners, tells the press.

And Levi Cottington, CEO of ICM, agrees. He believes that the company’s time with Century Park left the ingredient maker in good shape for this next phase: “Century Park has been an invaluable partner for ICM. Their support of large investments in new labs, people and R&D resources, as well as add-on acquisitions, allowed ICM to become the global leader it is today. I am truly excited for the Company’s future with CHT.”

Beauty partner

It’s likely that ICM Silicones will continue to serve the beauty industry going forward. Even though other industry markets look much larger, both ICM and CHT (as part of its Industry Solutions business) have personal care and cosmetics manufacturers as clients now.

As the media release about this deal notes, “ICM’s [current] product catalog includes over 800 proprietary formulations spanning emulsions, elastomers, antifoams, gels and gums. The Company serves over 2,000 customers across the automotive, cosmetics, electronics, food processing, industrial, personal care and thermal management end markets.”

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