Skip to main content
Sister Publication Links
  • European Rubber Journal
  • Plastics News
  • Tire Business
Subscribe
  • Login
  • Register
  • Subscribe
  • News
    • Automotive
    • Tire
    • Non-Tire
    • Suppliers
    • ITEC
    • Silicone
    • Online Exclusive
    • Latex
    • Technical Notebooks
    • Executive Action
    • Government/Legal
    • Opinion
    • Rubber Division IEC
    • Blogs
    • Sustainability
    • Products
    • Wacky World of Rubber
  • War in Ukraine
  • Custom
    • Sponsored Content
    • White Papers
  • Resources
    • Directory
    • Classifieds & Mold Mart
  • Data
  • Events
    • RN Events
    • RN Livestreams/Webinars
    • Industry Events
    • Past Events
    • Rubber News M&A Live
    • 2022 Hose & Belt Manufacturers Conference
    • 2022 International Silicone Conference
    • 2022 International Tire Exhibition & Conference (ITEC)
    • 2022 Women Breaking the Mold
  • Advertise
  • DIGITAL EDITION
MENU
Breadcrumb
  1. Home
  2. Acquisition
December 06, 2019 04:30 PM

Huntsman to buy Icynene-Lapolla for $350 million

Simon Robinson
Urethanes Technology International Report
  • Tweet
  • Share
  • Share
  • Email
  • More
    Print

    THE WOODLANDS, Texas—Huntsman has agreed to pay $350 million in cash for Icynene-Lapolla, furthering its spray foam strategy. The deal should close in the first half of 2020.

    Icynene-Lapolla has annual sales of around $230 million.

    The deal expands Huntsman's footprint in the growing North American spray foam market, and, according to CEO Peter Huntsman, provides the Texas-based company with a strong foundation to expand its business.

    "As the demand for energy efficiency continues to grow, both in residential and commercial construction, this combination of companies will provide Huntsman with the largest global array of spray foam technology, integration of raw materials and associates," he said. "This is the size and type of downstream assets that we will continue to add to our company as we strengthen margins, move downstream and be less reliant on a single product or application."

    Lapolla was founded in 2005 by Doug Kramer, who became the CEO of Icynene-Lapolla after the two companies joined together in 2018.

    That March of 2018, Huntsman expanded its own spray foam business when it paid $350 million for Demilec. It's an area that the Texas-based company feels has significant room for growth, and the combination of the Demilec and Icynene-Lapolla technologies give it a stronger foothold.

    In a news release, Huntsman management noted that spray foam businesses typically have higher margins and more consistent sales than cyclical commodities such as diisocyanates and polyols. And the combination of Demilec and Icynene-Lapolla will be a particular strength for Huntsman, according to Tony Hankins, president of Huntsman's polyurethanes division.

    "I am delighted that Icynene-Lapolla is joining our downstream, high-growth MDI urethanes insulation business," he said in a statement. "Icynene-Lapolla is well recognized by architects, builders and contractors as a market leader in the manufacture and supply of high-performance, energy-efficient building envelope solutions."

    Letter
    to the
    Editor

    Rubber News wants to hear from its readers. If you want to express your opinion on a story or issue, email your letter to Editor Bruce Meyer at [email protected].

    Most Popular
    1
    Nokian poised to immediately exit Russia
    2
    One killed, two injured in shooting at WeatherTech facility
    3
    Bridgestone opens $21 million race tire plant, boasts guayule-based Firehawk
    4
    Bridgestone creates silicone-based self-sealing tires
    5
    DuPont tailors its adhesives as EVs get more sophisticated
    SIGN UP FOR NEWSLETTERS
    EMAIL ADDRESS

    Please enter a valid email address.

    Please enter your email address.

    Please verify captcha.

    Please select at least one newsletter to subscribe.

    Get our newsletters

    Staying current is easy with Rubber News delivered straight to your inbox, free of charge.

    Subscribe Today

    Subscribe to Rubber News to get the best coverage and leading insights in the industry.

    SUBSCRIBE
    Connect with Us
    • LinkedIn
    • Facebook
    • Twitter

    MISSION

    To serve companies in the global rubber product industry by delivering news, industry insights, opinions and technical information.

    Contact Us

    2291 Riverfront Pkwy, Suite 1000
    Cuyahoga Falls,
    OH 44221

    Customer Service:
    877-320-1726

    Resources
    • About Us
    • Digital Edition
    • Staff
    • Advertise
    • Order Reprints
    • Privacy Policy
    • Privacy Request
    • Terms of Service
    • Careers
    • Ad Choices Ad Choices
    • Sitemap
    Partner Sites
    • Tire Business
    • European Rubber Journal
    • Plastics News
    • Plastics News China
    • Urethanes Technology
    • Automotive News
    • Crain Brands
    Copyright © 1996-2022. Crain Communications, Inc. All Rights Reserved.
    • News
      • Automotive
      • Tire
      • Non-Tire
      • Suppliers
      • ITEC
      • Silicone
      • Online Exclusive
      • Latex
      • Technical Notebooks
      • Executive Action
      • Government/Legal
      • Opinion
      • Rubber Division IEC
      • Blogs
        • Products
        • Wacky World of Rubber
      • Sustainability
    • War in Ukraine
    • Custom
      • Sponsored Content
      • White Papers
    • Resources
      • Directory
      • Classifieds & Mold Mart
    • Data
    • Events
      • RN Events
        • 2022 Hose & Belt Manufacturers Conference
        • 2022 International Silicone Conference
        • 2022 International Tire Exhibition & Conference (ITEC)
        • 2022 Women Breaking the Mold
      • RN Livestreams/Webinars
      • Industry Events
      • Past Events
      • Rubber News M&A Live
    • Advertise
    • DIGITAL EDITION