Based in Germany, the XSYS division is involved in the development and supplying of printing plates, sleeves and adapters, and pre-press equipment to the packaging industry
Global private equity company Lone Star Funds’ affiliate has agreed to acquire the XSYS division from Flint Group for an undisclosed sum.
Based in Germany, the XSYS division is engaged in the development and supplying of printing plates, sleeves and adapters, and pre-press equipment to the packaging industry.
Once the deal is concluded, the XSYS management team will be led by Antoine Fady as CEO, Dagmar Schmidt as COO and Martin Sauer as CFO.
Steve Dryden will replace Fady as CEO of the Flint Group.
In a statement, Fady said: “The carve-out we are announcing today represents the next logical step for Flint Group and XSYS.
“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.”
Established in January this year, the XSYS conducts operations from more than 37 locations across the world.
The XSYS division supplies both flexographic and letterpress prepress solutions, including plates, sleeves, processors, workflow solutions and expert professional services.
It markets flexographic and letterpress brands such as nyloflex, Xpress, nyloprint, nylosolv, rotec, FlexoExpert, ThermoFlexX, Catena, TFxX and Woodpecker.
Flint Group CEO Steve Dryden said: “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.”
The deal is subject to customary closing conditions, including regulatory approvals.
Goldman Sachs Bank Europe and J.P. Morgan served as financial advisors, while Freshfields Bruckhaus Deringer acted as legal advisor to Flint Group. Perella Weinberg Partners and Weil, Gotshal & Manges have advised the Lone Star.
In August last year, Flint Group announced a series of major investment programmes for its Russian packaging inks to better serve its customers in the region.