Prince International’s $2.1 Billion Acquisition of Ferro Corporation

Simpson Thacher represented Ferro Corporation in the transaction, while Kirkland & Ellis advised Prince International Corporation.

Prince International Corporation (“Prince”), a portfolio company of American Securities LLC, completed the proposed acquisition of Ferro Corporation (NYSE: FOE) (“Ferro”) for $22 in cash per share in a transaction valued at approximately $2.1 billion. The transaction is subject to customary closing conditions, including the approval of Ferro’s shareholders and regulatory approvals, and is currently expected to close in the first quarter of 2022.

Ferro is a global supplier of technology-based functional coatings and color solutions, headquartered in Mayfield Heights, Ohio. Ferro products are sold into the building and construction, automotive, electronics, industrial products, household furnishings and appliance markets.

Headquartered in Houston, Texas, Prince International Corporation specializes in developing, manufacturing and marketing performance-critical specialty products for niche applications in the construction, electronics, consumer products, agriculture, automotive, oil & gas, industrial and other end markets.

The Simpson Thacher team advising Ferro included Mario Ponce, Jakob Rendtorff and Austin Uhm (M&A); Brian Robbins and Jamin Koslowe (Executive Compensation and Employee Benefits); Brian Steinhardt (Credit); Richard Fenyes (Capital Markets); Peter Guryan and Jamie Logie (Antitrust); Mick Tuesley and Mark Skerry (Regulatory); Benjamin Rippeon and Caroline Phillips (Tax); Adeeb Fadil and Tim Mulvihill (Environmental); Lori Lesser and Melanie Jolson (Intellectual Property); Drew Kofsky (Labor); and Karen Hsu Kelley (Public Company Advisory Practice).

Kirkland & Ellis advised Prince International Corporation with a team led by corporate partners Michael Weisser and Duncan Enista and associate William Lay, debt finance partners Melissa Hutson, Michael Kim and Yuli Wang, antitrust partners Chuck Boyars, Matt Reilly and Michael Engel, and tax partner Mark Schwed.

Involved fees earner: Chuck Boyars – Kirkland & Ellis; Michael Engel – Kirkland & Ellis; Duncan Enista – Kirkland & Ellis; Melissa Hutson – Kirkland & Ellis; Michael Kim – Kirkland & Ellis; William Lay – Kirkland & Ellis; Matthew Reilly – Kirkland & Ellis; Yuli Wang – Kirkland & Ellis; Michael Weisser – Kirkland & Ellis; Adeeb Fadil – Simpson Thacher & Bartlett; Richard Fenyes – Simpson Thacher & Bartlett; Peter Guryan – Simpson Thacher & Bartlett; Karen Hsu Kelley – Simpson Thacher & Bartlett; Jakob Rendtorff – Simpson Thacher & Bartlett; Melanie Jolson – Simpson Thacher & Bartlett; Andrew Kofsky – Simpson Thacher & Bartlett; Jamin Koslowe – Simpson Thacher & Bartlett; Lori Lesser – Simpson Thacher & Bartlett; James Logie – Simpson Thacher & Bartlett; Timothy Mulvihill – Simpson Thacher & Bartlett; Caroline Phillips – Simpson Thacher & Bartlett; Mario Ponce – Simpson Thacher & Bartlett; Benjamin Rippeon – Simpson Thacher & Bartlett; Brian Robbins – Simpson Thacher & Bartlett; Mark Skerry – Simpson Thacher & Bartlett; Brian Steinhardt – Simpson Thacher & Bartlett; Malcolm Tuesley – Simpson Thacher & Bartlett; Austin Uhm – Simpson Thacher & Bartlett; Mark Schwed – Weil, Gotshal & Manges;

Law Firms: Kirkland & Ellis; Simpson Thacher & Bartlett; Weil, Gotshal & Manges;

Clients: Ferro Corporation; Prince International Corporation;

Author: Martina Bellini