Flint IPO in the Works

By: E&P Staff Financial Times Deutschland reports today that number-two ink manufacturer Flint Group is preparing for a public stock offering, according to Reuters. The likely initial move was reported almost two months ago by Bloomberg.

The FT's German edition reports that Luxembourg-based Flint's owner, London-based private equity firm CVC Capital Partners Ltd., is working with Deutsche Bank and Morgan Stanley toward an IPO this year.

Created when CVC joined the formerly family-owned Flint Ink, Ann Arbor, Mich., with German and Swedish companies in 2005, Flint Group recorded $3.4 billion in sales last year and $3.4 billion in 2008.