Flint Group announces acquisition of Printec Industries, Inc. in North America
Flint Group has today announced the acquisition of Printec Industries, Inc. located in Marietta, Georgia, USA. Printec manufactures and sells water-based inks for flexo and gravure applications to a group of key printers in the North American region. With this acquisition, Flint Group strengthens its position and support to the Paper & Board segment in North America.
Printec was founded in 1991 and is a key supplier of inks for high-end paper cups, plates, folding cartons, and other specialty applications. Flint Group’s Packaging & Narrow Web division manufactures and supplies inks and coatings to the Paper & Board, Flexible Packaging, Narrow Web and Sheetfed segments around the world. With the intent of expanding its packaging businesses in the North American region, the company recently acquired Advanced Color Systems, Inc. (ACS) and American Inks and Coatings (AIC). The addition of Printec is another step in this strategic journey to support customers in this region.
Doug Aldred, President Flint Group Packaging & Narrow Web, says, “We warmly welcome the employees of Printec as they join the Flint Group family – we are extremely pleased with this addition to our growing packaging division in North America. As a key supplier of inks and coatings for high-end paper applications, Printec’s technology expertise and products, combined with the infrastructure of Flint Group, will benefit our current and future customers. We admire the business which Printec has built and look forward to working alongside them for further growth.”
Ray Stanley, President and co-owner of Printec Industries, Inc., comments, “This partnership with Flint Group will add significant value for our customers in the long term. Flint Group is focused on reducing overall applied cost and providing solutions which will benefit our loyal customers in the growth and stability of their businesses. Our customers can be assured that they will be working with a world-class company; Flint Group’s products and technical knowhow will be a great complement to Printec’s products and service.”
Larry Bull, Vice President and co-owner of Printec Industries, Inc., continues, “Our employees will continue their current journey in this growing segment along with Flint Group. Furthermore, our customers will receive the same exceptional service from their existing Printec contacts and also have access to the expertise of the staff and the wide array of products that Flint Group offers.”
Ray Stanley further adds, “Printec Industries integrates perfectly into Flint Group’s strategic goals and objectives. Our customers will directly benefit from this partnership. We have a great opportunity to provide our clients with new solutions and product resources.”
Antoine Fady, CEO, Flint Group, states, “Flint Group’s goal is to strengthen a business that will provide best in class products and services to the Paper & Board segment in North America – supplying the highest quality inks, coatings, and technical expertise when and where needed. Including a company such as Printec into our strategy confirms our dedication to the customers in this burgeoning market segment.”
Mr. Fady continues, “Ray Stanley and Larry Bull have built a strong, focused, organisation, which fits perfectly with Flint Group’s long range growth plans. We are extremely pleased that they have accepted our offer to invest in their company and their employees – and we look forward to expanding upon this solid foundation.”
This transaction was signed and closed on Friday, September 30, 2016.