- Acquisition brings the companies of ICM, QSi and ACC under the roof of CHT
- Significant profitable expansion of the existing silicone business
- The market re-entrance of CHT Group in the USA
- A supplement to the already existing silicone product range
- Additional market and technology know-how
ICM Silicones Group is a leading solutions provider for high performance silicone emulsions and silicone elastomer applications in America. ICM Silicones Group consist of five separate operating subsidiaries: ICM Products Inc. in Cassopolis, Michigan; QSi LLC in Richmond, Virginia; ACC Silicones Ltd. in Bridgwater, UK; Treco Srl in Milan, Italy and ACC Silicones in Tianjin, China. ICM Silicones Group greatly expands CHT’s geographic reach in the US market and strengthens its already strong presence in the silicone specialities business.
Dr. Frank Naumann, CEO of CHT Group said, “We’re excited to combine the silicone speciality businesses of ICM Silicones Group and CHT. The acquisition doubles our current silicone business and positions us as a leading silicone specialities supplier globally. We look forward to continuing the strong business development by building on the combined strength of technical innovation and customer service both companies offer. Furthermore, this transaction brings CHT Group back to the ever important US market.“
Dr. Ralf Brückmann, Head of Business Field General Industries, CHT Group, said, “The combination of CHT Silicones and ICM Silicones will greatly expand the variety of products and services that CHT already offers to the marketplace globally. With this transaction, CHT Silicones will have a stronger international footprint and will be able to add significantly more value to our customers.”
Levi Cottington, CEO of ICM Silicones Group, expressed enthusiasm over the acquisition. Saying, “The acquisition is a great fit for both companies. CHT gains a strong presence in the United States plus adds technology and market segment expertise that can be used globally. We appreciate what we have been able to accomplish with Century Park and look forward to being part of the strong global CHT Team.”
Dr. Bernhard Hettich, COO of the CHT Group commented that broadening CHT’s silicone business and technology base into attractive new market segments is a key focus of our growth strategy within our Agenda 2020. The combination of the CHT silicone business with ICM Silicones Group could not be a better fit.
Quarles & Brady acted as legal advisors and Alantra, Boston, acted as financial advisors to CHT Group on the transaction. It has been agreed between seller and buyer that terms will not be disclosed.