In 2006, Flint Group, then owned by CVC Capital Partners, sold Jetrion, its inkjet division, to EFI. Jetrion was focused on the label market, and had approximately $3 million to $5 million in sales that year. EFI paid CVC approximately $40 million in cash. Jetrion has since become one of the industry leaders in inkjet printing for narrow web and labels.
 
It seemed counter-intuitive at the time: inkjet was (and remains) one of the brightest areas for printing and inks. For nearly a decade, Flint Group has remained on the sidelines in this growing market.
 
Flint Group has now made a major move back into digital printing with the Nov.20, 2015 announcement of its acquisition of Xeikon, which develops and manufactures color inkjet presses and consumables for the label, folding carton, document and commercial markets.

What prompted this decision? Well, to begin with, Flint Group is now owned by a partnership between Goldman Sachs and Koch Industries, whose stated goal is to build up the company, which has $2.8 bilion ion annual sales. Being in the digital printing market is one major way to accomplish this mission, as Flint Group can now offer a wider range of solutions to its customers. I would also guess that Flint Group’s manufacturing and supply chain operations would be helpful in producing the liquid toners that Xeikon supplies to its customers.

Once the acquisition is approved, which should be by the end of this year, Xeikon will become the cornerstone of the newly created Flint Group Digital Printing Solutions division. Wim Maes, Xeikon’s CEO, will become president of the new division.
 
What prompted this decision? Well, to begin with, Flint Group is now owned by a partnership between Goldman Sachs and Koch Industries, whose stated goal is to build up the company. Being in the digital printing market is one major way to accomplish this mission, as Flint Group can now offer a wider range of solutions to its customers. I would also guess that Flint Group’s manufacturing and supply chain operations would be helpful in producing the toners that Xeikon supplies to its customers.
 
Xeikon has some intriguing technologies. Its new Trillium press combines LED technology, a strength for Flint Group, and its liquid toners along with its own workflow capabilities. It is a four-color roll-to-roll press  that prints at 200 feet per minute, designed for the commercial and document markets. The Cheetah press, which is also new, is a five-color press that prints at 98 feet per minute, according to the company. It is designed for the label market, a segment where Flint Group has a strong position.
 
The bottom line is that the acquisition of Xeikon makes a lot of sense for Flint Group, as it fills in an important gap for its customers.