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Prince is a world-class producer of engineered minerals and specialty chemicals for niche applications, adding value from source to solution.

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Prince manufactures a wide range of engineered mineral and specialty chemical products to meet the needs of a variety of applications.

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Innovation is central to Prince’s business. From laboratory to customer process, innovation is about solving customer problems to deliver higher quality solutions ahead of the competition.

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Prince International Exploring Sale Of Its Porcelain Enamel And Glass Coatings Business

HOUSTONNov. 3, 2021 — Prince International Corporation (“Prince”), a portfolio company of American Securities LLC, today announced that it is exploring a sale of its porcelain enamel and glass coatings business in the U.S. and Europe (the “Business”). As previously announced, on May 11, 2021, PMHC II, Inc., an affiliate of Prince, entered into a definitive agreement to acquire all of the outstanding common stock of Ferro Corporation (“Ferro”) for $22.00 per share in cash, resulting in a transaction valued at approximately $2.1 billion (the “Ferro transaction”). Prince is exploring a sale of the Business in connection with its efforts to obtain regulatory clearance required to complete the Ferro transaction. The Ferro transaction is subject to customary closing conditions and is anticipated to close in the first quarter of 2022.

The Business is the second-largest producer of porcelain enamel globally and a major player in glass coatings. With over 110 years of expertise in frit production and glass technology—a key ingredient for porcelain enamel and glass coatings—the Business serves niche, differentiated end uses such as home appliances, cookware, and automotive. The Business operates three state-of-the-art facilities across North America and Europe and caters to a diverse portfolio of global blue-chip customers. With a strong growth and margin profile, the Business exhibits strong cash flow generation supported by a favorable macroeconomic backdrop.

“Prince is exploring a sale of our porcelain enamel and glass coatings business, a recognized industry leader with well-tended, long-term customer relationships driven by trusted innovative product offerings and high quality customer service,” said D. Michael Wilson, Chief Executive Officer of Prince. “We are focused on a seamless execution of this sale process as part of the broader Ferro acquisition and will pursue the best path forward to benefit Prince, its stakeholders, and the Business.”

Prince has retained Barclays Investment Bank as its financial advisor to assist in the sale process.

About Prince
Prince International Corporation is a global provider of mission-critical solutions to highly specialized applications driven by deep technical and material science knowledge. Prince enjoys leading positions in niche and mature markets including colorants & coatings, electronics, construction & industrials, agriculture, and energy. Prince is highly diversified across 2,000+ customers, 35+ end markets, and multiple geographies.

Media Contact
For Prince:
Lauren Odell / Max Dutcher
Gladstone Place Partners

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