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New Deal SIAT Kartesia

Financing for acquisition of Packaging Machinery Manufacturer SIAT marks Kartesia’s third investment in Italy

Kartesia, the European specialist provider of capital solutions for small and mid-sized companies, is pleased to announce that it has provided a loan facility to support H.I.G. Capital (“H.I.G.”) in the acquisition of 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. Over the last fifty years, SIAT has established itself as an international brand renowned for its extraordinary machine quality and durability, as well as customer focus. SIAT’s machinery and services are known to address customers’ sustainability agenda as well as efficiency of the packaging process. 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. The company employs over 300 people. 

Kartesia has supported H.I.G. with a Unitranche loan to finance the acquisition of the Company. The capital for this investment comes from Kartesia’s Senior Opportunities I (KSO I) fund. This is Kartesia’s third investment in Italy. 
 
Christian Kraul-von Renner, Managing Director at H.I.G., commented: ‘’We are glad to partner with Kartesia as a lender on this transaction. The deal team’s knowledge of the sector and their pragmatic and constructive approach have been instrumental to the completion of the transaction in a smooth and timely manner.”

Javier Castillo, Director at Kartesia, said: “We are pleased to announce this new transaction with H.I.G., a leading sponsor that we know well and with an unparalleled understanding of this business and industry dynamics. This represents our third investment in Italy, a market where we are very active and expect to grow further in the coming months.”

Giuseppe Mirante, Senior Advisor, added: “We are excited to support SIAT’s continuing success story. SIAT is already a global leader in its market segments and well positioned to grow further in various regions, especially with the backing of a strong and global sponsor like H.I.G.” 
 

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