By: E&P Staff
The European Commission and U.S. authorities on Friday approved XSYS Print Solutions’ acquisition of Flint Ink Corp. and the companies’ subsequent merger. Based in Stuttgart, Germany, XSYS is majority-owned by European private equity firm CVC Capital Partners.
The sale is expected to close in late September, when further announcements will be made, according to the companies.
The transaction will create the world’s second largest ink supplier, with approximately 8,000 employees and combined 2004 revenues of $2.6 billion (E&P Online, July 20). The new entity will be co-owned by CVC-funds and the company’s management.