Saalasti Group buy Cross Wrap.
Saalasti Group and Cross Wrap announced they have signed an acquisition agreement under which Saalasti Group has bought 100% of Cross Wrap shares.
Cross Wrap engineer and manufacturer bale wrapping, bale opening, and dewiring machines. Saalasti Group is a Finnish, family-owned corporation offering special machinery and services for sustainable processes and industries. Cross Wrap continues its operations as an independent company and brand as a part of Saalasti Group.
“We are thrilled and excited to welcome Saalasti Group as the new owner of Cross Wrap. Family-owned and globally operating Saalasti Group is a perfect match to continue as the owner of Cross Wrap.
The ownership of Cross Wrap has changed from one Finnish family to another one. Cross Wrap will go on with the same mission as before – create smarter ways for wrapping, dewiring, and bale opening for our customers around the world,” said Satu Kivelä, the CEO of Cross Wrap.
Timo Saalasti, partner and chairman of Saalasti Group’s board, said that the corporation performed a large-scale background work to find the right match. “For speeding the growth of the corporation, Saalasti analyzed more than 50 potential candidates to acquire before we came across the only company matching our tick list. We wanted a company that, like Saalasti, is on the side of the good ones and works for sustainability. Cross Wrap’s products are second to none, as growing sales and repeat orders have proven. Also, we wanted a financially sound company.“
“What mattered most is the Cross Wrap’s superbly talented team and their expertise to create solutions for the rapidly developing and growing circular economy industry. The fact that the company values of Cross Wrap were almost identical to ours finally made us certain about going ahead with this deal. The Saalasti’s family with the third generation already in duty is proud to be allowed to continue the work of the Kivelä family as an owner of Cross Wrap,“ Mr. Saalasti sums up.
Cross Wrap engineers and manufactures industry-leading machinery and services for its customers in waste, recycling, and board industries to make their operations smarter. All Cross Wrap’s professionals continue their work in the company. The founders and previous owners, CEO Satu Kivelä, and Sales Director Kalle Kivelä continue in their current positions.
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