Goldman, Koch to acquire Flint Group
Goldman Sachs Merchant Banking Division, has partnered with Koch Equity Development, a subsidiary of Koch Industries, to acquire 100% shares of Flint Group, from U.K.-based private equity firm CVC Capital Partners. The deal is expected to be closed by second half of 2014.
15 Apr 2014 | By PrintWeek India
Goldman, Koch to acquire Flint Group
Antoine Fady, chief executive officer of Flint Group, said, “The management team of Flint Group is excited about this planned new ownership, and the opportunities this now presents. 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.”
Flint Group is sure about the smooth transition and its production positioning in the industry.
Fady concludes, “The transition will be seamless for Flint Group’s customers, employees and suppliers. Flint Group’s vision to be the print consumable supplier of choice to the global packaging and printing industries will remain firmly in place. With its unique product portfolio and market-focused approach, Flint Group will continue to provide exceptional value to customers around the world.”
The exact terms of the deal were not disclosed. But in a joint statement with the buyers on Thursday, April 10, Luxembourg-based CVC said it would sell 100% of Flint Group's share capital. PrintWeek India spoke to an Indian Flint official, who declined to comment.
Flint was formed in September 2005 through the merger of European ink makers BASF Drucksysteme GmbH and ANI Printing Inks AB and U.S.-based Flint Ink Corp.
Flint Group has a global footprint and operates from 137 sites in 40 countries and employs more than 6,600 staff. In India, Flint Group has two plants in Gujarat.
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