A newly formed entity made up of Goldman Sachs Merchant Banking Division and Koch Equity Development LLC, a subsidiary of Koch Industries, Inc., has acquired shares representing 100% of Flint Group’s share capital from private equity firm CVC Capital Partners.
‘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.’
‘We believe Flint Group is uniquely positioned to capture growth in its attractive printed packaging markets while at the same time continuing to benefit from strong and resilient performance of its print media business. With a significantly improved capital structure, Flint Group is best positioned to pursue its ambitious growth plans to further strengthen its market leading positions,’ said Matthias Hieber, head of corporate equity investing in the German speaking region of Goldman Sachs Merchant Banking Division.
Mr Fady concluded, ‘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.’
This sale remains subject to customary closing conditions and should be completed by the second half of 2014.
