New Haven, CT, March 8, 2019 – VR Mergers & Acquisitions (“VR”), a Connecticut business brokerage firm serving business owners in the Northeast, is pleased to announce the closing of the sale of TPR²’s Fireshell^®,  Heat Shedder^®, FireSafe^® and Structure Saver^TM intumescent coatings to Innovative Chemical Products Group (“ICP Group”). ICP Group is a portfolio company of Audax Private Equity and is headquartered in Andover, MA. TPR² is located in Essex, CT.    

TPR² develops and manufactures specialized thermal barrier, fire retardant and fire resistant technologies used for a variety of applications and end users.  The company’s line of intumescent coatings were brought to market in 2007 to coat spray foam insulation used primarily on commercial construction projects. Fireshell^®, Heat Shedder^®, FireSafe^® and Structure Saver^TM are distributed throughout North American and select overseas markets through leading insulation product dealers.    

Peter Gummo, managing partner of TPR², found in ICP Group a company that was a perfect fit for the Fireshell^®product line.  ICP Group is a leading specialty chemical manufacturer in North America and provider of coatings, adhesives and sealants globally.  The acquisition of these product lines and technologies provides the ICP Group new opportunities to strengthen its total offering to customers and channel partners while further positioning ICP Group as the premier coatings innovator.

Jeff Swiggett, President of VR Mergers & Acquisitions, commented that “We were very pleased to assist Peter and his partners in this transaction and quite honored to have been trusted with managing the sale of their Fireshell^®, Heat Shedder^®, FireSafe^® and Structure Saver^TM coatings.  They developed a great product line and we wanted to make sure we secured the right buyer which we did with ICP Group.”

About VR Mergers & Acquisitions

VR Mergers & Acquisitions in New Haven, CT is an award-winning advisor that represents owners of businesses valued between $500,000 and $25 million or with annual revenues from $1 million to $30 million in the sale of their businesses. Operating within a wide range of industry segments, the office provides exceptional merger and acquisition advisory services to companies in Connecticut, New England and Metro NY.  The company has been operating since 2008 and during that time completed over 80 transactions. 

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If you would like more information about this topic, please contact Jeff Swiggett at 203-772-3773 or email at jeffs@vrnewhaven.com.