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Ferro has sold its polymer additives business to the private equity firm H.I.G. Capital for $154 million. The business generates annual sales of about $200 million by producing polymer modifiers, lubricants, and stabilizers at six plants in the U.S. and U.K. H.I.G. has renamed the business Valerus Specialty Chemicals. Other chemical firms in H.I.G.’s portfolio include fine chemicals maker American Pacific, melamine producer Cornerstone Chemical, and reference fuels provider Haltermann. Ferro sold its specialty plastics business to A. Schulman earlier this year.
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