Packaging Solutions
The Flint Group has announced that it has signed a definitive agreement to sell its Xsys division, which specialises in the development and supply of printing plates, sleeves and adapters, and pre-press equipment to the packaging industry, to an affiliate of Lone Star Funds. Terms of the transaction were not disclosed.
Upon closing, the Xsys management team will be led by Antoine Fady as chief executive officer, Dagmar Schmidt as chief operating officer, and Martin Sauer as chief financial officer. Steve Dryden will become CEO of the Flint Group.
‘The carve out we are announcing represents the next logical step for Flint Group and Xsys,’ said Antoine Fady. ‘It will further enable the Xsys business to advance as a standalone, best in class, full solutions provider to the flexographic and letterpress pre-press industries, with tailor made solutions developed for each market segment and customer type. We look forward to working with Lone Star, whose experience and track record will be of great benefit as we move XSYS forward in this next phase.’
‘With this transaction, we will create two dedicated management teams with increased strategic and operational focus,’ said Steve Dryden, newly elected Flint Group CEO. ‘Flint Group becomes positioned to further invest in the structurally growing segments of paper and board, flexible packaging and labels, serviced with our conventional and digital printing consumables. This successful strategy – centered around product and service innovation – enables Flint to grow with customers that value our colour proposition by helping them to standardise and reduce their costs.’
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