Flint Group Acquires North American Water-based Ink Manufacturer Printec
LUXEMBOURG — October 4, 2016 — Flint Group has announced the acquisition of Printec Industries located in Marietta, Ga. 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 and 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 and Narrow Web division manufactures and supplies inks and coatings to the paper and 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 (ACS) and American Inks and Coatings (AIC). The addition of Printec is another step in this strategic journey to support customers in this region.
"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," says Doug Aldred, president Flint Group Packaging and Narrow Web. "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, also 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, VP and co-owner of Printec Industries, also adds, "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."
Stanley further notes, "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 and 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."
Fady concludes, "Ray Stanley and Larry Bull have built a strong, focused, organization, 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, Sept. 30, 2016.
About Flint Group
Flint Group is dedicated to serving the global printing and packaging industry. The company develops, manufactures and markets an extensive portfolio of printing consumables, including: a vast range of conventional and energy curable inks and coatings for most offset, flexographic and gravure applications; pressroom chemicals, printing blankets and sleeves for offset printing; photopolymer printing plates and sleeves, plate-making equipment and flexographic sleeve systems; pigments and additives for use in inks and other colorant applications.
With a strong customer focus, service and support, and superior products, Flint Group strives to provide exceptional value, consistent quality and continuous innovation to customers around the world. Headquartered in Luxembourg, Flint Group employs some 6,800 people. Revenues for 2015 were € 2.2 billion (US $2.8 billion). On a worldwide basis, the company is the number one or number two supplier in every major market segment it serves.
Source: Flint Group.