CLEVELAND – Ferro Corp., Mayfield Heights, Ohio, has completed the previously announced acquisition of Belgium-based Cappelle Pigments, a leader in specialty, high-performance inorganic and organic pigments used in coatings, inks and plastics, for €50.5 million on a cash-free and debt-free basis. The acquisition was previously announced on October 17, 2016.
The transaction was funded through excess cash and borrowings under the company’s existing revolving credit facility.