Flint Group is a leading global supplier of inks and other print consumables such as flexographic printing plates, blankets, image transfer products and chemicals for press rooms, to the packaging and the print media industries. The company, which operates 137 sites in 40 countries and employs some 6,600 people, is the number one or number two supplier in most of the market segments it serves.
Antoine Fady, chief executive officer of Flint Group, stated, "The investment by Goldman Sachs Merchant Banking and Koch is a clear vote of confidence in our vision, strategic plans, and 'can do' culture. Flint Group's fundamental dedication to safety, sustainability, integrity and compliance will continue to form the foundation of all of our business activities."
Martin Hintze, co-head of corporate equity investing in Europe of Goldman Sachs Merchant Banking Division stated, "The acquisition of Flint Group fits well into our strategy of investing in leading global franchises and growing them organically and through acquisitions. We look forward to working in partnership with Koch Equity Development and Flint Group's strong management team to execute on their strategy."
"We believe Flint Group is uniquely positioned to capture growth in its attractive printed packaging markets while at the same time continuing to benefit from strong and resilient performance of its print media business. With a significantly improved capital structure, Flint Group is best positioned to pursue its ambitious growth plans to further strengthen its market leading positions," added Matthias Hieber, head of corporate equity investing in the German speaking region of Goldman Sachs Merchant Banking Division.
Goldman Sachs Merchant Banking Division and Koch Equity Development will support the strategy developed by the Flint Group's management team. The investors will target the more attractive and higher growth printed packaging market while maintaining Flint Group's strong position in the resilient print media business.
This sale remains subject to customary closing conditions and should be completed by the second half of 2014.
