Innovative Chemical Products (ICP), a coatings and adhesives manufacturer backed by PE firm Audax Management, is in advanced negotiations over a restructuring that could result in creditors taking ownership of the company, according to a report Bloomberg citing unnamed people familiar with the situation.
The discussions come as Audax is reportedly preparing to step away from its investment, shifting control of the business toward lenders as financial pressures intensify. The company is working w...
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