Frescoln Discusses the Flint/XSYS Merger

There have been several significant acquisitions/mergers in the ink industry recently. However, the Flint Ink and XSYS Print Solutions merger under the sponsorship of CVC Capital Partners was the largest and probably caused the most stir in the industry. We spoke with Dave Frescoln, CEO of Flint Ink and the newly formed combined company on the rationale for the merger and the future of the new organization. We also include some comments by Peter Koivula, former CEO of XSYS and Vice Chairman of the Board for the new company; and Dr. Christian Wildmoser, Managing Director of CVC Capital Partners and non-executive Director of the new company.

Note: XSYS Print Solutions was formed in September 2004 as a result of a merger between ANI Printing Inks (originally a part of Akzo Nobel Coatings from which it was spun-off at the end of 2001. It became an independent privately owned company through a management buyout in Feb, 2002) and BASF Printing Inks. Flint Ink was founded in 1920 by H Howard Flint.

WTT: Before the merger, Flint Ink was the largest privately-owned ink manufacturer. Had the private ownership created an impasse in terms of the company’s ability to fund growth and expansion?

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