U.S. Prince acquires specialty chemicals company Flow for US$2.1 billion

On May 11, Prince International announced that it would acquire the fine chemical giant Ferro for US$22 per share in cash, with a transaction value of approximately US$2.1 billion (approximately RMB 13.55 billion).

Prince said that after the completion of the acquisition, Flow will merge with Chromaflo Technologies, a colorant technology solution provider. The merger will bring about diversified businesses worldwide, with sales of approximately US$2 billion.

Pursuant to the terms of the transaction, Prince will acquire all issued common stocks of Flow for $22 per share in cash. The purchase price is a premium of 25.1% over the closing price of US$17.58 per share on May 10.

The transaction is expected to be completed in the first quarter of 2022, subject to the approval of Flow’s shareholders and the approval of relevant regulatory agencies.

Prince is a manufacturer of specialty chemicals, minerals and industrial additives, employing approximately 1,200 employees in 21 factories on 6 continents.

Flow Company is a supplier of technical functional coatings and color solutions. In the form of special pigments and colorants, it provides functional coatings for glass, metal, ceramics and other substrates, which are widely used in industrial and application fields. It has approximately 3,700 employees worldwide and sales of 959 million U.S. dollars in 2020.