Icynene U.S. Holding Corp. | Stephens

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Financial Advisor

Icynene U.S. Holding Corp.

$160 Million 11/30/2017 Building Products, Materials & Technology Complete
Financial Sponsors
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Transaction Details

  • On November 30, 2017, Icynene U.S. Holding Corp. (“Icynene”), a portfolio company of FFL Partners, LLC, closed the acquisition of Lapolla Industries Inc. (“Lapolla” or the “Company”) (OTCQX:LPAD)
  • The transaction was valued at approximately $160 million, including net debt
  • Under the terms of the agreement, stockholders of Lapolla will receive $1.03 in cash for each share of Lapolla that they own
  • The transaction was unanimously approved by Lapolla's board of directors and, following Lapolla's entry into the agreement, Lapolla stockholders holding approximately 78% of Lapolla's issued and outstanding voting shares executed a written consent approving the merger agreement and the transaction
  • Stephens Inc. served as financial advisor to FFL Partners

About the company

Icynene

Icynene is a leading manufacturer and distributor of spray polyurethane foam insulation products and a portfolio company of FFL Partners. Contractors install spray foam insulation in walls, ceilings, floors, attics, and hard-to-insulate areas across a diverse set of construction end markets.

Lapolla Industries, Inc.

Lapolla is a global supplier and manufacturer of spray polyurethane foam for insulation and roofing applications, reflective roof coatings and equipment.

FFL Partners

FFL Partners is a San Francisco-based private equity firm with over $4.5 billion under management. For over fifteen years, the firm has helped build industry-leading companies, providing capital and advice to exceptional management teams to grow businesses and unlock value.

Source: Publicly available information.
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