Ferro Corporation sell majority of Polymer Additives business assets for $154 million

Story excerpt provided by Crain’s Cleveland Business.

Written by Jeremy Nobile.

Ferro Corporation (NYSE: FOE) announced today it has sold the majority of the assets of its Polymer Additives business to Polymer Additives, Inc., a wholly owned portfolio company of global private equity firm H.I.G. Capital, LLC, for approximately $154 million in cash. The sale is effective immediately.

Ferro, headquartered in Mayfield Heights, is a global supplier of tech-based performance materials including glass-based coating, pigments and colors, and polishing materials. Ferro’s products are used in construction, automobiles, appliances, electronics, household furnishings and industrial products.

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Originally published December 19, 2014.

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