Icynene U.S. Holding Corp.’s $160 Million Acquisition of Lapolla Industries

Haynes and Boone, LLP represented Lapolla Industries, Inc. in its sale to Icynene U.S. Holding Corp., a Canadian rival in the spray foam insulation industry and portfolio company of FFL Partners, LLC.

The deal, valued at about $160 million, was unanimously approved by Lapolla’s board of directors, the company said in a statement.

Houston-based Lapolla is a global manufacturer and supplier of state-of-the-art spray polyurethane foam insulation, reflective roof coatings and equipment, designed to reduce energy consumption in residential, industrial and commercial structures. Icynene, which also makes and distributes spray foam insulation products, is based in Mississauga, Ontario. The company, led by Douglas J. Kramer and Jomarc Contreras Marukot is based in Houston.

Haynes and Boone Partners Rick Werner (Picture) and Greg Kramer and Associate Patrick Horan represented Lapolla, assisted by lawyers in several of the firm’s U.S. offices.

Involved fees earner: Rick Werner – Haynes and Boone; Greg Kramer – Haynes and Boone; Patrick Horan – Haynes and Boone;

Law Firms: Haynes and Boone;

Clients: Lapolla Industries;


Author: Ambrogio Visconti