German buyout firm HQ Equita has agreed to acquire majority stake in the packaging machine manufacturer Steindl Group for undisclosed amount.
Image: HQ Equita will acquire undisclosed stake in Steindl Group. Photo: Photo by rawpixel on Unsplash.
Steindl Group comprises the packaging machine manufacturers Fawema and HDG Verpackungsmaschinen (HDG).
Upon completion of the deal, Fawema and HDG will be jointly operated under the newly formed company, The Packaging Group.
Fawema and HDG are engaged in the development and manufacturing of packaging machines for filling dry, free-flowing bulk materials into various types of paper or plastic laminate bags for flour, sugar, baking mixtures, confectionery, animal feed and various chemical products.
HDG’s product portfolio comprise servo- and cam-controlled horizontal form, fill and seal machines with rotary system while Fawema’s portfolio include servo-controlled high-performance packaging machines with chamber transport, and vertical, intermittent and continuous form, fill and seal machines.
TPG CEO Peter Steindl said: “With HQ Equita and Friedbert Klefenz as well as Markus Hüllmann we have found the ideal partners for FAWEMA and HDG to take the next big step, with both companies now operating as The Packaging Group to create a global platform.”
TPG advisory board chairman Friedbert Klefenz said: “I look forward to using my experience and my network to continue the success stories of FAWEMA and HDG as The Packaging Group.
“The attractive and rapidly growing packaging machinery market is characterized by consolidation tendencies. I see great potential in the M&A area in particular.”
With Mr. Steindl’s operational expertise, Mr. Klefenz’s strategic competence and industry network, as well as HQ Equita’s financial strength,
Upon completion of the deal, TPG plans to make targeted acquisitions to expand technical expertise, end applications and geographical reach.
The transaction is scheduled to be completed in the second half of June this year.
Employing 122 people, Fawema is headquartered in Engelskirchen where as HDG, which employs approximately 80 people, is headquartered in Lindlar.