# Ferro Corporation divests Tile Coatings Business to Pigments Spain for $460M

Ferro Corporation signed a definitive agreement to sell its Tile Coatings Business to Pigments Spain, S.L., a company of the Esmalglass-Itaca-Fritta group (portfolio company of Lone Star Funds), for $460 million in cash, with potential additional $32 million based on pre-closing performance. The transaction is subject to regulatory approvals and customary closing conditions.

- Type: Acquisition
- Announced: 2019-12-16
- Where: Cleveland, Ohio, United States
- Value: $460.0M
- Status: announced
- Products: tile coatings, ceramic tile coatings
- Sectors: [Construction Materials](https://endata.com/sectors/construction-materials.md)

## Companies

- [Ferro Corp.](https://endata.com/companies/25614.md)
- [Lone Star Funds](https://endata.com/companies/8698.md) (investor)
- [Ferro Corp.](https://endata.com/companies/25614.md) (target)
- [Lone Star](https://endata.com/companies/38686.md) (investor)
- [Pigments Spain, S.L.](https://endata.com/companies/43935.md) (acquirer)
- [Esmalglass-Itaca-Fritta group](https://endata.com/companies/43936.md) (acquirer)

## Sources

- [streetinsider.com](https://www.streetinsider.com/Business+Wire/Ferro+Corporation+Signs+Agreement+to+Divest+Tile+Coatings+Business/16245451.html), 2019-12-16: "This transaction will substantially advance the Dynamic Innovation and Optimization phase of our strategy and strengthen our balance sheet."
- [cincodias.elpais.com](https://cincodias.elpais.com/cincodias/2019/12/17/companias/1576584767_619020.html), 2019-12-17: "Ferro Corporation ha anunciado el acuerdo para vender su división cerámica al grupo Esmalglass-Itaca-Fritta por un valor de 412 millones de euros."

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Data from Endata (https://endata.com/). Announcements are summarized from public sources and may be incomplete; check the linked originals.