Ferro Corporation has completed the previously announced acquisition of Belgium-based Cappelle Pigments, a leader in speciality, high-performance inorganic and organic pigments, used in coatings, inks and plastics, for €50.5M (approximately US$54M) on a cash-free and debt-free basis. The acquisition was previously announced on October 17, 2016.
The transaction was funded through excess cash and borrowings under the company’s existing revolving credit facility.
Cappelle is a 125-year-old premium pigment producer and a market leader in inorganic pigments. Cappelle’s pigments complement Ferro’s market leadership positions in Complex Inorganic Coloured Pigments (CICPs) and Ultramarine Blue pigments.
