German buyout firm HQ Equita has acquired packaging machinery manufacturer Steindl Group and rebranded it to The Packaging Group (TPG) to launch a new buy-and-build strategy in the sector.
In addition, Agroponiente bolts on Lara Castañeda and increases its stake in Vegacañada
Development comes three years after the GP invested £8m in the construction equipment business
Existing investor Bayern Kapital also takes part alongside new investor Vesalius Biocapital
3i acquires the company for up to €16m, of which €8.7m was deployed on signing the deal