Debt Financing for Acquisition of Lapolla Industries

Industrial
Debt Financing for Acquisition of Lapolla Industries

Summary

Baird served as exclusive debt advisor to Icynene, Inc. and FFL Partners on this transaction

About

Icynene, Inc. (“Icynene”), a portfolio company of FFL Partners (“FFL” or the “Firm”), recently completed a debt financing (the “Financing”) in support of its acquisition of Lapolla Industries, Inc. (“Lapolla”). The Financing consisted of a senior secured revolving credit facility and a secured term loan.

Icynene is a leading manufacturer and distributor of spray polyurethane foam (“SPF”) insulation products for residential, commercial, remodeling and specialty non-construction applications. Icynene’s portfolio of industry leading light density open cell and medium density closed cell SPF solutions are both insulation and air barrier materials for improved indoor air quality and reduced energy costs. Icynene’s products are utilized by builders, architects, building owners and homeowners around the world. Icynene was founded in 1986 and is based in Mississauga, Canada.

FFL is a 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. FFL has deep experience in investing and operations, and the Firm brings large-company best practices and professional networks to smaller companies. FFL invests in consumer products and services, industrial products and services, financial services, healthcare services, and business services. FFL was founded in 1997 and is based in San Francisco, California.

Lapolla is a global supplier and manufacturer of SPF for insulation and roofing applications, reflective roof coatings and equipment. Lapolla’s building envelope and roofing product solutions are designed to reduce energy consumption in the building environment, across the residential, commercial and industrial sectors, in both new construction and retrofits. Lapolla was founded in 1977 and is based in Houston, Texas.
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Industrial
Debt Financing for Acquisition of Lapolla Industries
Date
November 2017
Company
Icynene, Inc.
Transaction
M&A
Sectors
Industrial
Target Location
North America
Acquiror Location
North America

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