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Flint Group acquires Xeikon and establishes digital printing business

Flint Group has acquired digital print specialist Xeikon, which will form the bedrock of its new Digital Printing Solutions division.

Xeikon designs, develops and delivers high-end digital color presses and consumables for the global commercial, document, label and packaging market segments, distributing its products through a worldwide sales and service network. Xeikon recently detailed its plans for growth in southern Africa and Asia, for example, and has opened technology centers in Malaysia and Japan. Xeikon has also reported a successful presence at Labelexpo Europe 2015, including participation in the Packprint Workshop.

Flint Group has entered into an agreement to purchase XBC, a company that holds more than 95 percent of the shares in Xeikon. XBC is controlled by Bencis Capital Partners, with an 80 percent majority stake, and in which Gimv-XL indirectly holds a minority stake of approximately 20 percent. Bencis acquired Xeikon in 2013. Flint Group itself is owned by Goldman Sachs’ merchant banking division and Koch Equity Development LLC, a subsidiary of Koch Industries, Inc.

The deal includes all parts of Xeikon, including the ThermoflexX pre-press business. The transaction remains subject to customary closing conditions, including approval by the competition authorities, and should be completed by end of 2015.

Flint Group said Xeikon’s products and services will be the foundation of a newly created division to be called Digital Printing Solutions. This new division of Flint Group will further broaden the group’s conventional and digital printing solutions, offering a ‘unique proposition of equipment, consumables and services across its global markets’.

‘This acquisition represents an excellent opportunity for Flint Group, propelling the organization further into the digital solutions market, where we will continue to deliver on our long-term strategy of driving growth through product innovation, focus on developing markets and portfolio expansion,’ said Antoine Fady, Flint Group CEO. ‘Xeikon has a proven history of delivering exceptional value through high-quality, high-productivity, innovative and sustainable solutions for their customers, which fits seamlessly with our own long-term vision for our business.’

Wim Maes, Xeikon CEO, will become president of Flint Group Digital Printing Solutions, and said: ‘We are very pleased to be joining Flint Group’s global organization and excited by the opportunities this acquisition presents to accelerate business growth. Xeikon has shown that dedication to the digital label, folding carton, commercial and document printing market segments has paid off in terms of market share, customer satisfaction and financial contribution. This next chapter in our more than 20-year existence opens many opportunities for Xeikon as a company, as well as for our customers, employees, partners and stakeholders.

‘Flint Group has developed strong relationships with many leading global organisations within the graphic arts and packaging markets. Our shared goal of delivering exceptional value, unparalleled service, consistent quality and continuous innovation is only enhanced by Flint Group’s reputation, knowledge, infrastructure and support.’

Fady added: ‘I am delighted to welcome the customers and employees of Xeikon to Flint Group and look forward to supporting them and building on their continued success.’