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KPS Capital to Acquire Prince International’s Porcelain Enamel, Glass Coatings and Forehearth Colorants Businesses
- Client News
- March 16, 2022
Paul, Weiss is advising KPS Capital Partners, LP in its acquisition of Prince International Corporation’s porcelain enamel, glass coatings, forehearth colorants and frit-based metallurgical products businesses. Prince International, a portfolio company of American Securities LLC, operates manufacturing facilities in Belgium, Italy and the United States. Upon closing of the transaction, the business will become a new standalone company known as PEMCO International, a leading global manufacturer of porcelain enamels and specialized glass coatings and colorants for a variety of applications.
Completion of the transaction is expected in the first half of the second quarter of 2022, subject to the closing of Prince's acquisition of Ferro Corporation as well as customary closing conditions and regulatory approvals, including approval from the U.S. Federal Trade Commission and European Commission. Financial terms of the transaction were not disclosed.
The Paul, Weiss team includes, among others, corporate partner Angelo Bonvino and counsel Ji Lu; litigation partner Andrew Finch; tax partners Robert Killip and David Mayo; intellectual property partner Claudine Meredith-Goujon; executive compensation partner Jarrett Hoffman and counsel Reuven Falik; real estate partner Harris Freidus and counsel Barry Langman; and antitrust counsel Marta Kelly.