Huntsman to Expand Spray Polyurethane Foam Insulation Downstream Footprint with Icynene-Lapolla Acquisition
Icynene-Lapolla has annual revenues of approximately $230 million, with manufacturing facilities in Houston, Texas, and Mississauga, Ontario.
Huntsman Corp. recently announced its agreement to acquire Icynene-Lapolla, a North American manufacturer and distributor of spray polyurethane foam (SPF) insulation systems for residential and commercial applications, from an affiliate of FFL Partners, LLC. Icynene-Lapolla has annual revenues of approximately $230 million, with manufacturing facilities in Houston, Texas, and Mississauga, Ontario.
Under the terms of the agreement, Huntsman will pay $350 million, subject to customary closing adjustments, in an all-cash transaction funded from available liquidity. The transaction is expected to close in the first half of 2020.