May 14, 2021
Prince International Corp., a portfolio company of American Securities LLC, announced that it is acquiring Ferro Corp. for $22.00 per share in cash, in a transaction valued at approximately $2.1 billion, including the assumption of debt, net of cash. The agreement has been unanimously approved by Ferro’s board of directors.
In conjunction with the closing of the transaction, the company will combine with Chromaflo Technologies, a premier global provider of colorant technology solutions and also an American Securities portfolio company. The combination of Prince, Ferro and Chromaflo will result in a global diversified business with sales of approximately $2 billion.
“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,” says D. Michael Wilson, Prince CEO. “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.”