Company will emphasize growth through expansion of packaging business, acquisitions
David Savastano, Editor04.10.14
Flint Group, the world’s second largest printing ink manufacturer, was acquired today by Goldman Sachs Merchant Banking Division and Koch Equity Development LLC, a subsidiary of Koch Industries, Inc. Goldman Sachs and Koch Equity acquired 100% of Flint Group’s share capital from funds advised by CVC Capital Partners, a private equity firm.
Reuters and Bloomberg reported that Flint Group was valued at $3 billion (€2.2 billion) for the deal, which is subject to customary closing conditions and should be completed by the second half of 2014. Reuters also reported that the company will reduce its debt, estimated at approximately €1.8 billion, by 20% through this deal.
A leading manufacturer of inks, flexographic printing plates, blankets, image transfer products and chemicals for press rooms, to the packaging and the print media industries, Flint Group has annual sales of €2.2 billion and 6,600 employees. The company will continue to target the pack
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