FRANKFURT, Germany; NEW YORK, NY—Koch Equity Development has agreed to invest with Goldman Sachs in a newly formed entity that will acquire Flint Group, a leading global supplier of inks and other print consumables such as flexographic printing plates, blankets, image transfer products and chemicals for pressrooms, to the packaging and the print media industries. Flint Group operates 137 sites in 40 countries and employs some 6,600 people. The sale should be completed by the second half of 2014.
“The management team of Flint Group is excited about this planned new ownership, and the opportunities this now presents,” said Antoine Fady, CEO of Flint Group. “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 an exciting opportunity for Koch Equity Development,” added Brett Watson, managing director of Koch Equity Development. “Flint Group is a global leader with a clear strategy and a management team that has a consistent record of delivering results.”
Goldman Sachs Merchant Banking Division and Koch Equity Development will support the strategy developed by the Flint Group’s management team as it pursues a targeted business mix evolution toward the more attractive and higher growth printed packaging market while maintaining Flint Group’s strong position in the resilient print media business.
Fady indicated that 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.”