FFL-owned Icynene to buy Lapolla Industries in $160 mln deal
Icynene Inc, a Canadian maker and distributor of spray polyurethane foam (SPF) insulation products, has agreed to acquire all of the outstanding shares of Lapolla Industries Inc, a Houston, Texas-based company operating in the same industry. The deal is valued at US$160 million, including debt. The combination of Icynene and Lapolla will create a leading SPF products business serving residential, commercial, remodelling, and specialty non-construction insulation project needs worldwide, the companies said. Founded in 1986, Icynene was bought in 2014 by U.S. private equity firm FFL Partners, formerly known as Friedman Fleischer & Lowe.
5 October 2017•5 mins read
