NORTON, Ohio—Fomo Products Inc., which makes polyurethane foam sealants, adhesives and insulation products, has been acquired by Andover, Mass.-based Innovative Chemical Products Group.
Terms of the deal were not disclosed. Fomo Products, which was founded in 1975, will become part of ICP Adhesives and Sealants Inc., a division of Innovative Chemical Products.
Fomo said in a news release that it will remain based in Northeast Ohio, maintaining its headquarters in Norton and its manufacturing operations in Akron. A spokeswoman said via email on Tuesday morning, April 12, that Fomo was not disclosing its employee count and annual sales.
Fomo's brands include Handi Foam, Handi Flow, Handi Stick and Silent Seal.
The acquisition “enables Fomo's continued growth by allowing Fomo to further expand its reach, while maintaining its commitment to innovation, new technology and product stewardship,” according to the news release.
Stefan Gantenbein, president and chief operating officer of Fomo Products, has been named division president of ICP Adhesives, according to a news release from Innovative Chemical Products.
“The opportunity for continued growth and our complementary cultures make this an ideal fit,” Gantenbein said. “Through sharing best practices, scalable operational capacity, advanced technologies and talented leadership and employees, we can leverage both companies' capabilities to deliver great value to our customers.”
Innovative Chemical Products is a portfolio company of Audax Private Equity. The Fomo transaction is Innovative Chemical Products' fourth acquisition, according to the news release.