Terms of the transaction were not disclosed.

Steve Dryden, Flint Group, CEO, said: “We are delighted to have completed the sale of our XSYS division. The transaction is attractive, both financially and strategically, for Flint Group as we reinforce our position as a leader in conventional and digital printing consumables and equipment for the structurally growing segments of paper and board, flexible packaging, and narrow web labels. I would like to thank our XSYS colleagues for all of their hard work and wish them well in their future with Lone Star.”

Lone Star, founded by John Grayken, is a leading private equity firm advising funds that invest globally in real estate, equity, credit and other financial assets. Since the establishment of its first fund in 1995, Lone Star has organised 22 private equity funds with aggregate capital commitments totaling approximately USD 85-billion.