Prince International Completes Acquisition of Ferro, Combines with Chromaflo Technologies
HOUSTON — Prince International Corp., a portfolio company of American Securities LLC, has completed its previously announced acquisition of Ferro Corp. Prince paid $22.00 per share in an all-cash transaction valued at approximately $2.1 billion.
In conjunction with the closing of the transaction, the company will also combine with Chromaflo Technologies, a provider of colorant technology solutions and also an American Securities portfolio company. The new company, renamed Vibrantz Technologies Inc., will be headquartered in Houston, Texas, and will be a global, diversified technology leader in advanced materials, color solutions and performance coatings with sales of approximately $2 billion. The newly combined company employs approximately 5,400 people, operating 63 manufacturing sites across six continents.