Apollo seeks stake in packaging machinery company Syntegon – report

Apollo Global Management is successful discussions to get a number involvement successful German packaging machinery developer Syntegon, reported Bloomberg, citing sources.

The involvement mentioned is said to beryllium “significant”, though the nonstop size was not disclosed.

Sources bespeak that Apollo has edged up of different backstage equity bidders for the stake, with a imaginable statement expected soon.

The imaginable woody could worth Syntegon astatine arsenic overmuch arsenic €4bn ($4.6bn). However, negotiations are ongoing and could beryllium extended oregon autumn through.

According to the unnamed sources, alternate bidders could besides appear.

Both Apollo and Syntegon’s proprietor CVC Capital Partners person refused to comment.

Previously called Bosch Packaging Technology, Syntegon supplies instrumentality to pharmaceutical and nutrient assemblage clients. It was acquired by CVC from Robert Bosch successful 2019.

Financial details of that woody were not made public, but 1 idiosyncratic acquainted with the transaction valued it astatine astir $1bn.

Efforts by CVC to divest each of Syntegon past twelvemonth attracted some fiscal and strategical suitors, according to a erstwhile Bloomberg News report.

Last year, Syntegon launched its latest MLD Advanced filling machine, tailored for ready-to-use (RTU) nested syringes.

The instrumentality tin mildly process up to 400 syringes per minute. It incorporates automatic container and tub openers, utilizing no-touch transportation to support the aseptic integrity of syringes arsenic they determination into the filling zone.

In 2021, Apollo invested successful Italian recycled coated cartonboard shaper Reno De Medici.

"Apollo seeks involvement successful packaging machinery institution Syntegon – report" was primitively created and published by Packaging Gateway, a GlobalData owned brand.

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