Labels and Packaging Innovation Asia #3

Page 36

Labels and Packaging Innovation Asia • 9 2021 -

36

Flint Group announces sale of XSYS Division to Lone Star affiliate Divestiture allows Flint Group to strategically focus and invest further in its market leading packaging inks and digital printing businesses, in addition to strengthening its balance sheet. Flint Group COO Steve Dryden will become new CEO as Antoine Fady takes on CEO position for XSYS.

Flint Group announced today that it has signed a definitive agreement to sell its XSYS division (“XSYS”), which specializes in the development and supply of printing plates, sleeves and adapters, and prepress equipment to the packaging industry, to an affiliate of Lone Star Funds, a global private equity firm (“Lone Star”). The transaction remains subject to customary closing conditions, including regulatory approvals. Terms of the transaction were not disclosed. Upon closing, the XSYS management team will be led by Antoine Fady as Chief Executive Officer, Dagmar Schmidt as Chief Operating Officer, and Martin Sauer as Chief Financial Officer. Steve Dryden will succeed Mr. Fady as CEO of the Flint Group. “The carve-out we are announcing today represents the next logical step for Flint Group and XSYS,” Mr. Fady

said. “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. We look forward to working with Lone Star, whose experience and track record will be of great benefit as we move XSYS forward in this next phase.” “With this transaction, we will create two dedicated management teams with increased strategic and operational focus,” said Steve Dryden, newly elected Flint Group CEO. “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. This successful strategy – centred around product and service innovation — enables Flint to grow with customers that value our colour proposition

by helping them to standardise and reduce their costs.” “We look forward to working with XSYS, a leading global provider of printing solutions,” said Donald Quintin, President, Lone Star Opportunity Funds. “We recognize not only the resilience of the XSYS business and the diversity of its offerings, but its growth prospects as well. We appreciate the value that XSYS provides its many customers, and have great confidence in the management team’s commitment to realizing XSYS’s potential in the years ahead.” Goldman Sachs Bank Europe SE and J.P. Morgan acted as financial advisor and Freshfields Bruckhaus Deringer LLP acted as legal advisor to Flint Group. Lone Star was advised by Perella Weinberg Partners and Weil, Gotshal & Manges.

www.xsysglobal.com


Turn static files into dynamic content formats.

Create a flipbook

Articles inside

DKSH partners with Creative Edge Software in Asia

2min
pages 54-55

HP Unveils PageWide Corrugated Innovations to Drive Scaled Volume Digital Production

6min
pages 56-59

Doubles it's capacity with a brand new B OBST NOVA RS 5003

4min
pages 50-53

UFlex unveils set of new launches

3min
pages 48-49

Passion for pharmaceutical packaging – growth with new machine generation

7min
pages 42-45

Toppan creates NFC labels with decorative printing technologies

2min
pages 46-47

High barrier flexible packaging solutions designed for recyclability

4min
pages 38-41

Sustainability through Sonoco's fully recyclable Envirocan™

2min
pages 28-29

Flint Group announces sale of XSYS Division to Lone Star affiliate

2min
pages 36-37

Creating Safe, Sustainable Food Packaging with the Right Ink

8min
pages 30-35

Kolkata-based packaging expert Libako invests in

3min
pages 24-27

Food Packaging Market Expected to Reach USD 464.98 Billion by 2027

3min
pages 22-23

No compromise in print quality when using latest thermal plate technology

3min
pages 8-9

Aims to conquer the corrugated cardboard sector

4min
pages 18-19

ePac Flexible Packaging Launches in Australia

2min
pages 16-17

Best Practice for Compostables Infrastructure

2min
pages 20-21

Parkside encourages industry innovation to meet consumer needs in APAC region

2min
pages 12-13

Connect to Grow your business with MPSConnect

3min
pages 14-15

Packaging is next growth focus for EFI

6min
pages 4-7
Issuu converts static files into: digital portfolios, online yearbooks, online catalogs, digital photo albums and more. Sign up and create your flipbook.