Change In Company Ownership
12/14/2023(North Canton, Ohio: December 14, 2023) – After 22 years, the joint venture between Siat Group and 3M Corporation has grown and evolved to the point that 3M and Siat agreed to transition Combi Packaging Systems, LLC to a wholly owned entity of Siat to support Combi’s strategic growth potential.
The collaboration between Combi Packaging Systems and 3M will continue, with Combi supporting 3M’s channel for 3M-Matic™ products in North America.
“This is an exciting evolution for us,” said Gary Starks, President and C.E.O. of Combi Packaging Solutions. “We will continue to provide world-class, value-added service, engineering, and support for 3M’s end-of-line 3M-Matic packaging solutions. This evolution will allow Combi to expand its range of end-of-line packaging solutions to include Siat’s market-leading wrapping and strapping load containment solutions in North America.”
Terms of the agreement and transaction were not disclosed.
About Combi Packaging Systems:
Founded in 1979, Combi Packaging Systems LLC is a leading U.S. manufacturer of end-of-line packaging equipment, with more than 45 years of success in case erectors, case sealers, case packers, tray formers, ergonomic hand packing stations, and robotic technologies. Combi manufactures in a 165,000 sq.-ft. facility in North Canton, Ohio, and employs more than 160 people. It is also the exclusive warehouse, engineering, and logistics hub of 3M-Matic case sealers and spare parts in North America. www.combi.com
About Siat Group:
SIAT Group is an international, state-of-the-art manufacturer of transit packaging machinery and the global market leader for taping machinery with a strong position in pallet wrapping and strapping equipment. The company is headquartered in Turate, Italy. In its more than 50 years of company history, SIAT has established itself as an international brand renowned for its extraordinary machine quality, durability, and customer focus. www.siat.com
About H.I.G. Capital:
H.I.G. is a leading global private equity and alternative investment firm with $59 billion of equity capital under management. Based in Miami, and with European offices in London, Hamburg, Madrid, Milan, Paris, and the U.S. and Latin American offices in New York, Boston, Chicago, Dallas, Los Angeles, San Francisco, Atlanta, Bogotá, Rio de Janeiro, and São Paulo, H.I.G. specializes in providing both debt and equity capital to small and mid-sized companies, utilizing a flexible and operationally focused/value-added approach. www.higcapital.com
About 3M Corporation:
3M (formerly Minnesota Mining and Manufacturing) is a diversified technology company with product development, manufacturing, and marketing expertise. It operates through four business segments: Safety and Industrial, Transportation and Electronics, Health Care, and Consumer. www.3m.com
Media Contact:
Jeff Guritza, VP of Marketing
Combi Packaging Systems
330-608-1333 (m)