Ferro Corporation, a leading global supplier of technology-based functional coatings and colour solutions, has entered into a definitive agreement to be acquired by Prince International Corporation, a portfolio company of American Securities LLC, in an all-cash transaction valued at approximately $2.1 billion USD, or 12.4 times TTM Adjusted EBITDA as of March 31, 2021.
Under the terms of the agreement, which has been unanimously approved by the Ferro Corporation Board of Directors, Prince will acquire all of the outstanding common stock of Ferro for 22.00 USD per share in cash.
