Ferro Corp., a global supplier of technology-based functional coatings and color solutions, recently announced it has entered into a definitive agreement to be acquired by Prince International Corp., a portfolio company of American Securities LLC, in an all-cash transaction valued at approximately $2.1 billion, or 12.4 times TTM adjusted EBITDA as of March 31, 2021, including the assumption of debt, net of cash. Under the terms of the agreement, which has been unanimously approved by the Ferro board of directors, Prince will acquire all of the outstanding common stock of Ferro for $22 per share in cash.
Prince International to Acquire Ferro in $2.1 Billion All-Cash Transaction
The board of directors of Ferro unanimously approved the agreement.
May 18, 2021