Ferro Corporation (NYSE: FOE, “Company”) bought from Milan, Italy-based Private Equity Funds’ Management Company Star Capital SGR S.p.A. and from two minority owners Italy-based Vetriceramici S.p.A.
K Finance acted as financial co-advisor to the sellers.
Vetriceramici is a leading Italian supplier of ceramic coatings to high-end tile manufacturers. Vetriceramici trailing twelve month sales of approximately €53 million, and over the last three fiscal years achieved compounded annual sales growth of 9.3%. Vetriceramici operates manufacturing facilities in Italy and Mexico, a mixing plant in Poland and research and development and sales offices in Italy and Turkey.
Ferro Corporation is a leading global supplier of technology-based performance materials, including glass-based coatings, pigments and colors, and polishing materials. Ferro products are sold into the building and construction, automotive, appliances, electronics, household furnishings, and industrial products markets. Headquartered in USA, the Company has approximately 4,020 employees globally.
William Blair acted as financial co-advisor to the sellers. Legal advisor to the sellers was Accinni, Cartolano e Associati. Ferro was advised by Jones Day.