Prince employs approximately 1,200 employees across its 21 facilities located on 6 continents. Headquartered in Houston, Texas, Prince specializes in developing, manufacturing and marketing performance-critical specialty products, many custom developed, for niche applications in the construction, electronics, consumer products, agriculture, automotive, oil & gas, industrial and other end markets. LLC served as financial advisor for Ferro Corporation and Simpson Thacher & Bartlett LLP served as legal advisor. LLC and Barclays served as financial advisors for Prince International Corporation and Kirkland & Ellis LLP served as legal advisor. The transaction is expected to close during the first quarter of 2022, subject to the approval of Ferro shareholders and the satisfaction of customary closing conditions, including applicable regulatory approvals. It will enhance our ability, on a global scale, to deliver state-of-the art products and innovative solutions that enrich everyday life.” “The combination will result in a company with unmatched competencies in particle engineering, glass science and color technology. “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. The combination of Prince, Ferro and Chromaflo will result in a global diversified business with sales of approximately $2 billion. 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 agreement has been unanimously approved by Ferro’s Board of Directors. HOUSTON, – Prince International Corporation (“Prince”), a portfolio company of American Securities LLC, announced today that it is acquiring Ferro Corporation for $22.00 per share in cash, in a transaction valued at approximately $2.1 billion, including the assumption of debt, net of cash.
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