Ferro Corp. said it acquired privately held TherMark Holdings Inc., a laser marking technology company, for $5.5 million in cash.
TherMark is Ferro's largest partner in the marketing of laser marking materials and also licenses technology to Ferro.
In a news release, Mayfield Heights, Ohio-based Ferro said TherMark's 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 industries including awards and recognition, signage, medical and surgical instruments, manufacturing, home appliances and décor.
“This is a small but attractive, value-creating investment for Ferro,” said Peter Thomas, Ferro's chairman, president and CEO, in the release. He said 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.”
TherMark is based in Irvine, Calif.