H.I.G. Capital portfolio company SIAT Group has bought a 50% stake in US-based Combi Packaging Systems from 3M.
The terms of the deal have not been disclosed.
Combi’s product portfolio consists of case erectors, tray formers, case sealers, case packers, robotic packaging systems, and hand-packing stations.
It supplies packaging solutions to various industries, including packaging machines for the dairy and egg industries and packaging solutions and equipment for e-commerce companies.
The company provides customised packaging for the beverage and industrial chemicals industry, as well as packaging equipment for flexible household consumer products and personal care industries.
Combi also handles services and warehousing for the 3M-Matic Case Sealing equipment brand, mainly in North America.
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3M will continue to offer its 3M-Matic products in conjunction with the sale and will retain ownership of the 3M-Matic brand, technologies, and product portfolio. The products will continue to be sold through approved channels across the world.
The industrial packaging division of 3M will leverage more than 50 years of experience in case-sealing technology to develop advanced packaging solutions that cater to the changing requirements of customers.
Siat is involved in the production and supply of secondary packaging systems, as well as machines and materials for strapping, wrapping, and box sealing.
The company serves a wide range of customers across industries, including e-commerce, food production, distribution, and logistics.