Flint Group Completes Sale of its XSYS Division to Lone Star affiliate
Luxembourg, 28 February 2022: Flint Group confirms, today, the successful completion of the sale of its XSYS division (XSYS) to an affiliate of Lone Star Funds (Lone Star), a global private equity firm.
Terms of the transaction were not disclosed.
Steve Dryden, Flint Group CEO, said: “We are delighted to have completed the sale of our XSYS division. The transaction is attractive, both financially and strategically, for Flint Group as we reinforce our position as a leader in conventional and digital printing consumables and equipment for the structurally growing segments of Paper & Board, Flexible Packaging, and Narrow Web labels.
“I would like to thank our XSYS colleagues for all of their hard work and wish them well in their future with Lone Star.”
About Flint Group:
Flint Group is dedicated to serving the needs of the global Flexible Packaging, Paper & Board, Narrow Web and Publication industries, both conventional and digitally printed. The company develops, manufactures and markets an extensive portfolio of printing consumables and equipment, including: a vast range of conventional and energy curable inks, coatings and additives for Flexographic, Gravure & Offset applications; pressroom chemicals and printing blankets. Furthermore, Flint Group designs and manufacturers digital printing presses for labels, corrugated packaging, document and commercial applications. The company is a leader in colour management solutions which are supported by a Global Colour Centre to ensure colour consistency and standardisation. Flint Group strives to support its customers through a relentless focus on developing: innovative products, exceptional levels of service and the security of supply. Headquartered in Luxembourg, Flint Group employs some 5,600 people. Revenues for 2021 were €1.5 billion. On a worldwide basis, the company is the number one or number two supplier in every major market segment it serves. For more information, please visit www.flintgrp.com
About Lone Star
Lone Star, founded by John Grayken, is a leading private equity firm advising funds that invest globally in real estate, equity, credit and other financial assets. Since the establishment of its first fund in 1995, Lone Star has organized 22 private equity funds with aggregate capital commitments totaling approximately $85 billion. The firm organizes its funds in three series: the Commercial Real Estate Fund series; the Opportunity Fund series; and the U.S. Residential Mortgage Fund series. Lone Star invests on behalf of its limited partners, which include institutional investors such as pension funds and sovereign wealth funds, as well as foundations and endowments that support medical research, higher education, and other philanthropic causes. For more information regarding Lone Star Funds, go to www.lonestarfunds.com.