H.I.G. Capital Acquires the SIAT Group
H.I.G. Capital (“H.I.G.“), a leading global alternative investment firm with $48 billion of equity capital under management, is pleased to announce that an affiliate has acquired SIAT Group ( “SIAT” or the “Company”).
SIAT is the global market leader for case taping machinery and holds a leading position in pallet wrapping machinery and strapping heads and tools. In its more than 50 years of company history, SIAT has established itself as an international brand renowned for its extraordinary machine quality and durability as well as customer focus. Headquartered in Turate near Milan in Italy, SIAT supplies its products through a global network of 500+ partners as well as directly to leading blue chip customers across the globe. SIAT employs over 300 people.
In recent years, SIAT has heavily invested into a dedicated customer focused sales and marketing strategy, launched various new and innovative market-leading products which among others address the sustainability agenda of its customers, and successfully established a strong position in fast growing industries such as e-commerce. H.I.G. is now backing the experienced SIAT management to continue the success story and to further develop SIAT’s global leading position for transit packaging machinery across all end-of-line packaging technologies, both organically and through acquisitions, and to drive the Company’s growth across various regions, especially in North America, CEE and Asia.
Konstantinos Marinakis, CEO of SIAT, commented: “We have been able to successfully develop our business as a global market leader across all end-of-line packaging applications around the world with market-leading profitability. We are delighted that H.I.G. has been attracted by our development in recent years, and we are truly excited to continue our growth trajectory with the support of H.I.G. for years to come.”
Christian Kraul-von Renner, Managing Director at H.I.G., commented: “SIAT is the global market leader for case taping machinery with a premium brand. The Company is very well positioned to benefit from fundamental industry tailwinds driving robust growth for end-of-line packaging equipment. We are impressed by the achievements of the SIAT leadership team in recent years, and we are thrilled to support the management for the next phase of SIAT’s growth.”
About SIAT Group
SIAT Group is an international, state-of-the-art manufacturer for transit packaging machinery and the global market leader for taping machinery with a strong position in pallet wrapping machinery and strapping tools and strapping heads. The Company is headquartered in Turate, Italy. Its products play a mission-critical role in the preparation and protection of packaged goods and are used by a broad range of international blue chip customers and SME’s in numerous attractive industries such as ecommerce, food production, distribution and logistics across the globe.