3M Sells 50% Stake in Combi Packaging Systems

3M has announced the sale of its 50% stake in Combi Packaging Systems to SIAT Group, a leading manufacturer of case taping machinery, wrapping machinery, and strapping equipment. The terms of the deal were not disclosed, but 3M has assured that it will not have a significant impact on the company’s financial results.

A Strategic Move for 3M

Combi Packaging Systems specializes in end-of-line packaging machinery and spare parts. As the service and warehousing provider for the popular 3M-Matic Case Sealing equipment brand, Combi has established a strong presence in North America. Despite divesting its stake in Combi, 3M will continue to sell 3M-Matic products.

SIAT Group: A Strategic Buyer

SIAT Group is a portfolio company of H.I.G. Capital, an alternative-investment firm. With their expertise in manufacturing case taping machinery, wrapping machinery, and strapping equipment, SIAT is well-positioned to integrate Combi Packaging Systems into its operations.

Conclusion

As 3M finalizes the sale of its stake in Combi Packaging Systems, both companies are optimistic about the future. While the financial details of the deal remain undisclosed, 3M has emphasized that it will not have a material impact on the company’s overall performance moving forward.