On Aug. 26, the European Commission and U.S. authorities approved the proposed acquisition of Flint Ink by XSYS Print Solutions and the subsequent merger of the two companies. Closing is expected to occur at the end of September.
XSYS is majority-owned by funds that are managed and advised by the European private equity firm CVC Capital Partners. The investigation has shown that the proposed transaction will not impede effective competition in the European Union or in North America.
The acquisition and merger will create a group that will rank among the largest ink companies in every region it serves, with an employee base of 8,000 and combined revenues of approximately US $ 2.6 billion (€ 2.1 billion), based on 2004 figures. The new entity will be co-owned by CVC-funds and the company’s management.