Akoya Capital Acquires ICM Products, Inc.

January 31, 2012, Los Angeles, CA – Century Park Capital Partners and Akoya Capital Partners are pleased to announce the acquisition of ICM Products, Inc. Headquartered in Cassopolis, Michigan, ICM is one of the largest independently-owned specialty silicone formulators in the United States.  Founded in 1989 by silicone technology expert Ken Charboneau, the company specializes in the development of silicone polymers, emulsions and defoamers for use in a broad range of applications and end markets including personal care, food processing, mold release, cleaning, coatings and automotive care.

Don Stanutz, a Managing Director who leads Akoya’s Specialty Chemicals practice, identified ICM as an attractive platform company and sought an experienced equity partner to lead the transaction. Century Park Capital Partners has made successful investments in the specialty chemicals sector in the past and understood the opportunity that existed in building a significant company in the silicones sub-sector. Century Park Capital Partners felt it would be able to accelerate the growth curve of ICM by investing in the firm’s infrastructure, internal growth initiatives, and strategic add-on acquisitions.

Mr. Stanutz commented “ICM is an undisputed gem of silicone specialty chemicals. With ICM’s technology, Century Park Capital Partners’s capital, relationships and strategic support, and Akoya Capital’s specialty chemical and human capital expertise, we are going to build a world class player in this market. I am proud to become Executive Chairman of ICM and enthusiastic about helping take the company to the next level.”

Prior to joining Akoya, Mr. Stanutz spent over 36 years in prominent roles within the oil and specialty chemicals industries and, in addition to serving as the COO of Huntsman Corporation, was also Division President of Huntsman Performance Products. Mr. Stanutz will serve as Executive Chairman of ICM under Century Park Capital Partners’ ownership.

Ken Charboneau, the Founder and current President of ICM who will transition to Chief Technology Officer going forward, noted that “I am delighted at the partnership we have built with Century Park Capital Partners and assure our customers that we are better positioned than ever to deliver on our commitments and ensure continued product innovation.  The addition of chemicals industry veterans to the ICM team will afford us superior market insight and broaden our industry relationships, and we intend to further improve on service levels that our valued clients require and deserve.”

Prior to founding ICM, Mr. Charboneau spent 25 years in various product development capacities at Dow Chemical, Dow Corning and Mazer Chemical.  His new role as Chief Technology Officer will allow him to focus full-time on expanding the company’s portfolio of proprietary silicone products.

Marty Sarafa, Managing Partner with Century Park Capital Partners, commented, “The combination of ICM’s innovative product offering and superior service levels has positioned the company as a respected leader in the silicone chemicals space. We are delighted to have ICM join the Century Park Capital Partners portfolio of companies.”

Guy Zaczepinski, Principal with Century Park Capital Partners, added, “We are excited about ICM’s prospects in the silicones market, which is currently exhibiting impressive growth due to emerging applications and product substitution initiatives in various end use markets. We are eager to begin searching for high quality acquisitions for this new platform.”

Madison Capital Funding LLC provided the debt financing for the transaction. Terms of the transaction were not disclosed.

About ICM Products, Inc.:

ICM Products, Inc., headquartered in Cassopolis, Michigan, is a leader in the silicone chemicals market with expertise in developing specialized silicone polymers, defoamers and emulsions.  Since its founding in 1989, the company has amassed an extensive product portfolio of silicone blends that are used in a broad range of applications and end markets including personal care, food processing, mold release, cleaning, coatings and automotive care.  ICM works closely with customers to develop customized products that meet tailored specifications, in addition to offering standard chemical formulations.  For more information on ICM Products, please visit

About Century Park Capital Partners:

Century Park Capital Partners is a Los Angeles-based private equity firm that partners with owner/managers to build successful companies. The firm specializes in facilitating owner liquidity and business expansion by providing $10 million to $50 million equity investments for minority and majority recapitalizations, growth financings, management-led buyouts and acquisition financings. Century Park Capital Partners seeks to support management in accelerating the growth curve of well-positioned companies by investing in infrastructure, internal growth initiatives, and strategic acquisitions.  For more information on Century Park Capital Partners, please visit

About Akoya Capital:

Akoya Capital is a Chicago-based equity sponsor that executes leader-led strategies across multiple industries, and with a particular expertise in Specialty Chemicals, Consumer Foods, and Safety Products. Akoya is unique in its single-minded focus on sector and executive-led investing and in creating partnerships between management and capital to create significant shareholder value. For more information on Akoya Capital, please visit