3M sells equity stake in Combi Packaging Systems

3M has sold its 50% equity stake in Combi Packaging Systems to SIAT Group, an H.I.G. Capital portfolio company and provider of case taping machinery, wrapping machinery, and strapping equipment. Combi is a U.S.-based producer and distributor of end-of-line packaging machinery and spare parts, from individual case erectors to fully integrated packaging lines with robotic packaging and palletizing. Combi also acts as the service and warehousing provider for the 3M-Matic Case Sealing equipment brand primarily in North America. In conjunction with the sale, 3M will continue to sell 3M-Matic products. The 3M-Matic brand, technologies, and portfolio are retained by 3M and will continue to be sold through approved channels worldwide. The sale will not have a material impact on 3M’s financial results.