Feb 26 2015
Ferro Corporation (the “Company”) announced today that it has acquired privately held TherMark Holdings, Inc. (“TherMark”), a leader in laser marking technology, for $5.5 million in cash, subject to customary adjustments. TherMark is Ferro’s largest partner in the marketing of laser marking materials and also licenses technology to Ferro.
TherMark’s unique patented technology uses precise lasers to quickly and permanently fuse marking materials to metals, ceramics, glass, plastics and other hard surfaces. The process creates high-contrast, high-resolution marks for purposes of decoration and identification. The specially formulated marking materials, supplied by Ferro, consist of glass-based ceramic glazing material and pigments, with the addition of a thermal absorber.
Laser marking is used in a broad spectrum of industries including awards and recognition, signage, medical and surgical instruments, manufacturing, home appliances and décor. The technology is increasingly being used as a solution for component tracking, quality control and anti-counterfeiting in the automotive, aerospace, and perfume and cosmetics industries.
Commenting on the transaction, Peter Thomas, Chairman, President and CEO of Ferro Corporation, said, “This is a small but attractive, value-creating investment for Ferro. Laser marking is a fast-growing, high-value niche industry and we believe we can capitalize on this opportunity by leveraging our significant presence in glass coatings to drive future growth. Given our existing position as a supplier of laser marking materials and our knowledge of TherMark’s technology, we expect to seamlessly integrate the acquisition into our Performance Colors and Glass industrial products portfolio. This purchase is another example of our intention to increase sales and profitability by expanding our technology positions in high-value glass and color markets.”
Ferro was advised by League Park Advisors and Calfee, Halter & Griswold, LLP.
About Ferro Corporation
Ferro Corporation is a leading global supplier of technology-based performance materials, including glass-based coatings, pigments and colors, and polishing materials. Ferro products are sold into the building and construction, automotive, appliances, electronics, household furnishings, and industrial products markets. Headquartered in Mayfield Heights, Ohio, the Company has approximately 3,985 employees globally and reported 2014 sales of $1.1 billion.
About TherMark
TherMark Holdings, Inc., founded as TherMark Corporation in 1996, is located in Irvine, California, with a sales and support office near Pittsburgh, Pennsylvania. TherMark is a leading supplier of laser marking technology.
Source: http://www.ferro.com/