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3M announced that it has entered into an agreement to sell to Innovative Chemical Products Group (ICP Group), a portfolio company of Audax Private Equity, the assets of 3M’s pressurised polyurethane foam adhesives business (formerly known as Polyfoam), which is part of 3M’s industrial adhesives and tapes division. Terms of the transaction were not disclosed.
The product offering includes a two-component roof tile adhesive that professional roofers use to attach concrete or clay roof tiles. The business also offers a polyurethane foam adhesive used for adhering the fleece back roofing membrane and insulation board in low-slope roofing applications.
