Coatings Industry News

Main News Page


Ferro Announces Merger Plans

Wednesday, November 3, 2021

Comment | More

Technology-based functional coatings and color solutions supplier Ferro Corporation announced earlier this year that it will be acquired by Prince International Corporation, a portfolio company of American Securities LLC.

At the time, Prince also announced that the company would combine with global colorant system, chemical and pigment dispersion supplier Chromaflo Technologies, another American Securities portfolio company.

The terms of the agreement were unanimously approved by the Ferro Corporation Board of Directors, said the press release from Ferro.

According to Prince, the company will acquire all of the outstanding common stock of Ferro for $22 per share in cash in a transaction valued at approximately $2.1 billion, including the assumption of debt and net of cash.

“This transaction creates significant value for our shareholders. Ferro has successfully executed a five-phase transformation strategy that has resulted in creating a global leader in functional coatings and color solutions focused on high-growth markets,” said Peter Thomas, Chairman, President and CEO of Ferro. “Our products are used in critical industries such as healthcare, automotive, electronics, aerospace and construction, while being aligned with key global megatrends such as IoT, 5G and sustainability.

“The steps we have taken to develop a cohesive technology-driven portfolio and enhance our market leadership positions with long-standing, market-leading customers and deliver sustainable growth have made Ferro an attractive investment. Ferro’s transformation culminated in the transaction with Prince, which we believe represents compelling value for our shareholders, as well as a great opportunity for our employees.

kazuma seki / Getty Images

Technology-based functional coatings and color solutions supplier Ferro Corporation announced ealrier this year that it would be acquired by Prince International Corporation, a portfolio company of American Securities LLC.

“We are pleased to be able to partner with a market leader like Prince to grow our businesses on a truly global scale.”

“We are thrilled about combining Prince, Ferro and Chromaflo, each a leader in their respective markets, to form a true global technology leader in color solutions, functional coatings and specialty minerals,” said D. Michael Wilson, Prince CEO, in the company’s press release.

 “The combination will result in a company with unmatched competencies in particle engineering, glass science and color technology. It will enhance our ability, on a global scale, to deliver state-of-the art products and innovative solutions that enrich everyday life.”

This transaction is reportedly expected to close during the first quarter of 2022.

   

Tagged categories: Acquisitions; Asia Pacific; Business matters; Business operations; Chromaflo; EMEA (Europe, Middle East and Africa); Ferro Corporation; Good Technical Practice; Latin America; Mergers; North America; Program/Project Management; Z-Continents

Comment Join the Conversation:

Sign in to our community to add your comments.


Advertisements
 
Sauereisen, Inc.

 
Tarps manufacturing, Inc.

 
CRW

 
HoldTight Solutions Inc.

 
Paint BidTracker

 
Modern Safety Techniques

 
Strand’s Industrial Coatings

 
NLB Corporation

 
 
 

Technology Publishing Co., 1501 Reedsdale Street, Suite 2008, Pittsburgh, PA 15233

TEL 1-412-431-8300  • FAX  1-412-431-5428  •  EMAIL webmaster@paintsquare.com


The Technology Publishing Network

PaintSquare the Journal of Protective Coatings & Linings Paint BidTracker

 
EXPLORE:      JPCL   |   PaintSquare News   |   Interact   |   Buying Guides   |   Webinars   |   Resources   |   Classifieds
REGISTER AND SUBSCRIBE:      Free PaintSquare Registration   |   Subscribe to JPCL   |   Subscribe to PaintSquare News
MORE:      About PaintSquare.com   |   Privacy Policy   |   Terms & Conditions   |   Support   |   Site Map   |   Search   |   Contact Us