M&A Deal Summary

Pigments Spain Acquires Ferro’s Tile Coatings Business

On December 16, 2019, Pigments Spain acquired chemicals company Ferro’s Tile Coatings Business from Ferro for 460M USD

Acquisition Highlights
  • This is Pigments Spain’s 1st transaction in the Chemicals sector.
  • This is Pigments Spain’s largest (disclosed) transaction.
  • This is Pigments Spain’s 1st transaction in the United States.
  • This is Pigments Spain’s 1st transaction in Ohio.

M&A Deal Summary
Date 2019-12-16
Target Ferro’s Tile Coatings Business
Sector Chemicals
Buyer(s) Pigments Spain
Sellers(s) Ferro
Deal Type Divestiture
Deal Value 460M USD

Target

Ferro’s Tile Coatings Business

Mayfield Heights, Ohio, United States
Ferro’s Tile Coatings Business produces coatings for ceramic tiles used in residential and non-residential construction. Historically, it has been part of the Company’s Performance Coatings reporting segment, along with Ferro’s Porcelain Enamel Business.

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Buyer(S) 1

Buyer

Pigments Spain

Barcelona, Spain
Category Company
Sector Chemicals
DESCRIPTION

Pigments Spain is a manufacturer of paints and other products. The Company is based in Barcelona, Spain.

DEAL STATS #
Overall 1 of 1
Sector (Chemicals) 1 of 1
Type (Divestiture) 1 of 1
State (Ohio) 1 of 1
Country (United States) 1 of 1
Year (2019) 1 of 1
Size (of disclosed) 1 of 1

Seller(S) 1

SELLER

Ferro

Mayfield Heights, Ohio, United States
Category Company
Founded 1919
Sector Chemicals
Revenue 959M USD (2020)
DESCRIPTION
Ferro's corporate headquarters in Mayfield Heights, Ohio.
Ferro's corporate headquarters in Mayfield Heights, Ohio.

Ferro is a global supplier of technology-based functional coatings and color solutions. Ferro supplies functional coatings for glass, metal, ceramic, and other substrates and color solutions in the form of specialty pigments and colorants for a broad range of industries and applications. Ferro products are sold into the building and construction, automotive, electronics, industrial products, household furnishings, and appliance markets. The Company's reportable segments include Functional Coatings and Color Solutions. Ferro was formed in 1919 and is based in Mayfield Heights, Ohio.

DEAL STATS #
Overall 4 of 4
Sector (Chemicals) 3 of 3
Type (Divestiture) 4 of 4
State (Ohio) 2 of 2
Country (United States) 4 of 4
Year (2019) 1 of 1
Size (of disclosed) 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2017-10-02 Endeka Ceramics SA

Valencia, Spain

Endeka Ceramics SA is a supplier of raw materials and intermediate products to the ceramic tile and sanitary ware industries. Global presence with core manufacturing facilities in Spain, Italy, UK, Brazil, USA, Malaysia, India and China. Endeka Ceramics SA was established in 1994 and is based in Valencia, Spain.

Buy €64M
Mergr

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