Ferro plans revolver drawdown for €83 million Vetriceramici acquisition

By Susanna Moon

Chicago, Sept. 22 – Ferro Corp. said it plans to draw on its revolving credit facility for the acquisition of Vetriceramici SpA for €83 million.

The company signed a definitive agreement with Private Equity Funds’ Management Co. Star Capital SGR SpA and two minority owners and founders Gianfranco Padovani and Sergio Zannoni to acquire the Casola Valsenio, Italy-based company, according to a press release.

The deal is expected to close by Dec. 1.

Ferro is a Cleveland-based supplier of technology-based performance materials such as glass-based coatings, pigments and colors and polishing materials.

Vetriceramici SpA designs, develops, manufactures and supplies special products for the ceramics industry.

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