The €2.2bn turnover business, a leading global supplier of inks, flexo plates, blankets and pressroom chemistry to the print and packaging industries, was sold for an undisclosed sum, with the deal expected to close in the second half of 2014.

According to Reuters, Goldman Sachs and Koch have agreed to reduce Flint Group's approximately €1.8bn debt by 20% and have secured better terms for the remainder. This is expected to allow Flint to acquire competitors in the coming years.

Martin Hintze, co-head of corporate equity investing in Europe at GSMBD, said the acquisition fitted with the bank's strategy of "investing in leading global franchises and growing them organically and through acquisitions".

Matthias Hieber, head of corporate equity investing for the German Speaking Region at GSMBD added: "We believe Flint Group is uniquely positioned to capture growth in its attractive printed packaging markets while at the same time continuing to benefit from strong and resilient performance of its printed media business.

"With a significantly improved capital structure, Flint Group is best positioned to pursue its ambitious growth plans to further strengthen its market leading positions."

Antoine Fady, CEO, Flint Group said: "The management team of Flint Group is excited about this planned new ownership, and the opportunities this now presents. The investment by GSMBD and Koch is a clear vote of confidence in our vision, strategic plans, and 'can do' culture."

Flint Group has 137 sites in 40 countries worldwide and employs some 6,600 people.

CVC created Flint Group via the acquisition and merger of the ink businesses of BASF and Akzo Nobel with US-based Flint Ink Corporation in 2004/05; previous sale attempts include an unsuccessful IPO in 2010.