HQ Equita, the German investment house, has acquired packaging machine manufacturers Fawema and HDG.

The companies will be known as The Packaging Group. They were previously part of the Steindl Group.

The two companies specialise in developing and manufacturing packaging machines for filling dry, free-flowing bulk materials into paper and plastic bags.

HQ intends to help the company consolidate the sector and increase its aftermarket business.

Hake Consulting, Rentrop & Partner and Fritsch Graf Horsten advised the Steindl Group. Munich Strategy, Ebner Stolz, ERM, and Watson, Farley & Williams advised HQ.