The Flint Group has bought Xeikon, which develops high-end toner-based digital printers as well as Basys and ThermoFlexx platesetters.
It’s a good move for both companies. Xeikon has been owned by two venture capital companies, Bencis Capital Partners and Gimv-XL so this acquisition gives it greater long-term stability. At the same time, the Flint group mainly produces inks and other press room consumables and will now also become a digital machine manufacturer.
To cope with this, Flint will set up a new division – Flint Group Digital Printing Solutions – which will further broaden its market offering. The new division will be headed by Wim Maes, CEO of Xeikon, who will report directly to Antoine Fady, CEO Flint Group.
Fady commented: “This acquisition represents an excellent opportunity for Flint Group, propelling the organisation 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.”
The Flint Group is headquartered in Luxembourg, employing some 6800 people worldwide. It recorded revenues of €2.1 billion in 2014.