Investment Criteria

We invest in companies that care what happens next. We serve sellers who care what happens after close, valuing organizational stability and long-standing relationships with employees, customers, suppliers, and their community. They want a fair deal with people they can trust to not break ties. Regardless of the criteria, if that describes you, get in touch. If we’re not the right fit, we’re happy to try to help find someone who is.

ICR invests in private companies with the following characteristics:

  • Location: Headquartered in North America.
  • Ownership: Usually closely held by a family or small group of operating shareholders, but will consider sponsor-backed, take-privates, and corporate carveouts depending on situational context.


The United States presents diverse opportunities for growth in the chemical industry, with a widespread presence of chemical establishments across various states. There are emerging opportunities for expansion in states that exhibit a growing demand for chemical products, a skilled workforce, and favorable economic conditions. States like Texas, Louisiana, and California are known for their robust chemical industries, owing to the availability of natural resources, well-developed infrastructure, and proximity to major markets. Texas, for instance, benefits from its vast oil and gas reserves, which serve as essential raw materials for the petrochemical sector. Meanwhile, states like Pennsylvania, Ohio, and Michigan have a strong presence in specialty chemicals and advanced materials, thanks to their established manufacturing bases and skilled labor force. However, other regions with fewer chemical establishments could provide untapped growth potential. These states could offer incentives, such as tax breaks and grants, to attract new chemical investments and spur local economic development. Companies looking to expand may find it advantageous to consider locations with lower operating costs, a ready supply of skilled workers, and access to essential resources.

Map of the United States.

In conclusion, the U.S. chemical industry is geographically diverse, with opportunities for growth and expansion in various states. Companies should thoroughly assess regional factors, such as workforce availability, infrastructure, and resource access, to identify the most promising locations for their operations.