Industrial manufacturing conglomerate 3M announced Dec. 14 that it has sold its 50% equity stake in Combi Packaging Systems to H.I.G. Capital portfolio company SIAT Group, which is a manufacturer of case taping machinery, wrapping machinery and strapping equipment based in Italy.

Combi is a manufacturer 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.

3M added that the 3M-Matic brand, technologies and portfolio are retained by 3M and will continue to be sold through approved channels worldwide. 

“3M’s Industrial Packaging business will leverage its more than 50 years of case-sealing technology and expertise to further focus on innovating next-generation packaging solutions to meet the evolving needs of customers,” the company said in a news release.

3M noted that the sale will not have “a material impact” on the company’s financial results.