Century Park Capital Partners and Akoya Capital Partners Announce Sale of ICM Silicones Group

LOS ANGELES–(BUSINESS WIRE)–Century Park Capital Partners and Akoya Capital Partners are pleased to
announce that ICM Silicones Group (“ICM” or the “Company”) has completed
its sale to the CHT Group (“CHT”), a specialty chemicals conglomerate
headquartered in Germany.

ICM is a leading independent formulator and manufacturer of specialty
silicone materials offering one of the market’s broadest portfolios of
customized silicone products. ICM’s product catalog includes over 800
proprietary formulations spanning emulsions, elastomers, antifoams, gels
and gums. The Company serves over 2,000 customers across the automotive,
cosmetics, electronics, food processing, industrial, personal care and
thermal management end markets. ICM is headquartered in Michigan and has
additional manufacturing operations across the U.S., Europe and
Southeast Asia.

In 1989, Ken Charboneau, a former Dow silicones chemist, founded ICM
Products in Cassopolis, MI. In 2012, Century Park acquired majority
control of ICM Products in partnership with Akoya, allowing Mr.
Charboneau to transition from a CEO role to a CTO position. Shortly
after Century Park’s purchase, ICM completed the acquisition of Path
Silicones. Soon thereafter, in 2014, ICM acquired the Amber Chemical
Company, allowing ICM to transform itself into a global provider of
silicone emulsions and elastomers. The Amber transaction added Quantum
Silicones (Richmond, VA), Siovation (Atlanta, GA), ACC Silicones (UK),
Treco (Milan, Italy) and Amber Silicones (Tianjin, China) to the ICM
family. Subsequent to this transaction, the Company was renamed ICM
Silicones Group and Levi Cottington became its CEO. Under Century Park’s
ownership, ICM’s revenues and earnings increased approximately threefold.

Martin Sarafa, Managing Partner with Century Park Capital Partners,
commented, “ICM has grown into a truly global silicones player that can
meet the formulation needs of the industry’s most demanding end
customers. We are proud to have helped build one of the largest
independent silicone specialty chemical formulators in the world.”

Guy Zaczepinski, Managing Partner with Century Park Capital Partners,
added, “Levi Cottington and his management team did an outstanding job
in growing this platform, and we could not be more excited for ICM’s
next chapter. CHT is an ideal home for ICM and we believe that the
Company will flourish with its new ownership group.”

Don Stanutz, Akoya Managing Director and ICM Board Chair, commented,
"Our partnership is delighted that under our ownership we were able to
help ICM aggressively transition itself from a single location regional
business to a successful multi-site global enterprise. We are convinced
that the best days of ICM are ahead of it."

Levi Cottington, CEO of ICM, concluded, “Century Park has been an
invaluable partner for ICM. Their support of large investments in new
labs, people and R&D resources, as well as add-on acquisitions, allowed
ICM to become the global leader it is today. I am truly excited for the
Company’s future with CHT.”

KeyBanc served as financial advisor and Winston & Strawn served as legal
advisor to ICM Silicones Group and Century Park in this transaction.

About ICM Silicones Group:

ICM is a leading independent formulator and manufacturer of specialty
silicone materials offering one of the market’s broadest portfolios of
customized silicone products. ICM’s product catalog includes over 800
proprietary formulations spanning emulsions, elastomers, antifoams, gels
and gums. The Company serves over 2,000 customers across the automotive,
cosmetics, electronics, food processing, industrial, personal care and
thermal management end markets. ICM focuses on providing a collaborative
technical sales approach which allows it to deliver a high volume of
customized, premium-quality silicone products to its customers. The
Company also boasts industry-leading product development capabilities
and distributes its products globally. The Company is headquartered in
Cassopolis, MI and has additional manufacturing operations in Richmond,
VA; Bridgwater, UK; Milan, Italy and Tianjin, China.

About Century Park Capital Partners:

Century Park Capital Partners is a Los Angeles-based private equity firm
that invests in family businesses and owner-operated companies with the
purpose of accelerating their growth and building leading companies
within their industries. We specialize in acquiring strategically
well-positioned yet under-resourced middle market companies with
identifiable potential for value creation through the addition of
critical resources. Our Executive Council industry partners and
Operating Team work side-by-`side with us to support our investments
with proven industry insights, strategic initiatives, buy-and-build
acquisition programs, process improvement plans and infrastructure
additions. For more information on Century Park Capital Partners, please
visit www.centuryparkcapital.com.

About Akoya Capital Partners:

Akoya Capital Partners is a sector focused private investment firm that
creates and nurtures partnerships between management and capital and
invests in middle market business with attractive growth prospects. We
bring together industry leaders, investment worthy executives, and
capital to execute organic and acquisition based strategies to create
significant value for sellers, management, and investors. Our sectors of
focus are: specialty chemicals, industrial products and distribution,
consumer foods and products, and professional information services. For
more information on Akoya Capital, please visit www.akoyacapital.com.

Contacts

Century Park Capital Partners
Matt Minnaugh
Director of
Business Development
(310) 867-2216
[email protected]
or
Martin
Sarafa
Managing Partner
(310) 867-2220
[email protected]