Prince Acquires Ferro, Combines with Chromaflo to Form Vibrantz Technologies
Prince International Corporation recently announced it has completed its acquisition of Ferro Corporation. Prince paid $22.00 per share in an all-cash transaction valued at approximately $2.1 billion.
The acquisition was announced in May 2021.
In conjunction with the closing of the transaction, the company will also combine with Chromaflo Technologies, a provider of colorant technology solutions. Renamed Vibrantz Technologies Inc., the new company will be headquartered in Houston, Texas, and will specialize in advanced materials, color solutions and performance coatings with sales of approximately $2 billion.
The newly combined company employs approximately 5,400 people and operates 63 manufacturing sites across six continents.
“By combining Prince, Ferro and Chromaflo – all leaders in their own right – we have leading positions in highly attractive markets,” said D. Michael Wilson, president and chief executive officer at Vibrantz Technologies. “We have pulled leadership talent from all three companies to form a highly qualified management team.”
Vibrantz Technologies will operate in three business segments:
- Advanced Materials. Specialty mineral and chemical additives for end-uses such as alkaline and lithium-ion batteries, electronic components, building and construction, agriculture and animal nutrition, and foundries.
- Color Solutions. Dry powder pigments, pigment dispersions and liquid colorants for the paints and coatings, thermoset plastics and thermoplastics, and construction markets.
- Performance Coatings. High-performance glass coatings and porcelain enamel solutions for coatings, glass and other manufacturers.
Introducing the new Vibrantz Technologies brand and logo, Wilson said, “The new name speaks to who we are – to our energy and boldness – and what we do, which is innovating to bring color, performance and vibrancy to life in countless products across a broad array of end markets, and the design of our logo reflects the global nature of our company.”