Luxembourg-based inks manufacturer Flint Group with a revenue of USD 2.8 billion has announced the acquisition of Xeikon, a digital solutions provider to the packaging and commercial printing markets.
XBC BV owns more than 95% of Xeikon's shares. The acquisition is expected to complete by the end of the year. The transaction remains subject to customary closing conditions, including approval by the competition authorities, and should be completed by the end of 2015.
The Flint Group said following the acquisition, Xeikon’s products and services would be represented under a newly created division to be called Flint Group Digital Printing Solutions.
“The acquisition represents an excellent opportunity for Flint Group for its penetration into the digital solutions market,” said Antoine Fady, CEO, Flint Group. “Xeikon have a proven history of delivering value through high-quality, high-productivity, innovative and sustainable solutions for their customers, which fits seamlessly with our own long-term vision for our business.”
Headquartered in Netherlands, Xeikon designs, develops and delivers high-end digital colour presses and consumables for the global commercial, document, label and packaging market segments, distributing its solutions through a worldwide sales and service network.
Wim Maes, CEO, Xeikon, said, “We are pleased to be joining Flint Group’s global organisation. This next chapter in our more than 20-year existence opens many opportunities for Xeikon as a company, as well as for our customers, employees, partners and stakeholders.”
Wim Maes will become the president of Flint Group’s Digital Printing Solutions division, reporting to Antoine Fady.
Besides web-fed digital colour presses, Xeikon also manufactures basysPrint CTP solutions for the commercial printing market. For the flexographic market, Xeikon offers digital plate making systems under the ThermoFlexX brand name.
Xeikon is based in Eede in the Netherlands, with operations in Lier, Ieper and Heultje (Belgium). Maes said Flint Group had developed strong relationships with leading global organisations within the graphic arts and packaging markets and the acquisition provided opportunities to accelerate business growth.
The company showed its new Fusion concept at Labelexpo in Brussels in September.
It has also seen a rise in uptake of its toner-based label presses, from 205 in 2012 to an expected 392 this year. The company has five sites using the new CX3 label press (formerly the Cheetah), and expected to sell 20 this year.
The manufacturer also unveiled its new dry toner-based digital colour press, the Xeikon 9800, in February and sold its first new liquid toner Trillium press at Ipex last year.
The value of the transaction, which remains subject to customary closing conditions, including approval by the competition authorities, has not been revealed.
Netherlands and Belgium-based private equity house Bencis Capital Partners bought Punch Graphics’ 65.68% controlling stake in Xeikon for €110.3m in 2013.
Punch, which was a major supplier of components to Xeikon, bought the press manufacturer's colour digital assets out of bankruptcy in March 2002.
Flexo Image Graphics (FIG) is the Indian representative of Xeikon. Indian printers who use Xeikon printing presses include Good Work Company, Webtech Labels, Better Labels and RR Donnelly Publishing India.