Flow creation fails due to signature of ClassUtils.isPresent changed in Spring 4.0

The signature of org.springframework.util.ClassUtils.isPresent has changed from Spring 3.2 to Spring 4.0

In Spring 3.2 the signature was ClassUtils.isPresent(String) and in Spring 4.0 it is ClassUtils.isPresent(String, ClassLoader).

This causes java.lang.NoSuchMethodError to be thrown as shown in this trace
Caused by: java.lang.NoSuchMethodError: org.springframework.util.ClassUtils.isPresent(Ljava/lang/String;)Z
at org.springframework.webflow.mvc.builder.MvcEnvironment.environmentFor(MvcEnvironment.java:46) [spring-webflow
-2.4.0.M1.jar:2.4.0.M1]
at org.springframework.webflow.config.FlowExecutorFactoryBean.setApplicationContext(FlowExecutorFactoryBean.java
:139) [spring-webflow-2.4.0.M1.jar:2.4.0.M1]
at org.springframework.context.support.ApplicationContextAwareProcessor.invokeAwareInterfaces(ApplicationContext
AwareProcessor.java:119) [spring-context-4.0.0.RELEASE.jar:4.0.0.RELEASE]
at org.springframework.context.support.ApplicationContextAwareProcessor.postProcessBeforeInitialization(Applicat
ionContextAwareProcessor.java:94) [spring-context-4.0.0.RELEASE.jar:4.0.0.RELEASE]
at org.springframework.beans.factory.support.AbstractAutowireCapableBeanFactory.applyBeanPostProcessorsBeforeInitialization(AbstractAutowireCapableBeanFactory.java:407) [spring-beans-4.0.0.RELEASE.jar:4.0.0.RELEASE]
at org.springframework.beans.factory.support.AbstractAutowireCapableBeanFactory.initializeBean(AbstractAutowireCapableBeanFactory.java:1545) [spring-beans-4.0.0.RELEASE.jar:4.0.0.RELEASE]
at org.springframework.beans.factory.support.AbstractAutowireCapableBeanFactory.doCreateBean(AbstractAutowireCapableBeanFactory.java:539) [spring-beans-4.0.0.RELEASE.jar:4.0.0.RELEASE]