Waiblingen, Germany — With the closing of its transaction with CVC Capital Partners, Bosch Packaging Technology will now operate as independent enterprise Syntegon Technology GmbH with a focus on intelligent and sustainable technologies, and expanding the service range, according to the supplier.
Marc Strobel, a partner at CVC Capital Partners, says: “CVC is delighted to see the transaction completed on schedule. Syntegon Technology has a strong presence in many market segments, great technological know-how, and innovative power. We want to build on these strengths jointly with management and the entire workforce.”
The deal was initially announced in July 2019 and closed at the start of 2020, the company reports. As an independent company, Syntegon will be able to operate with more flexibility. Further, departments such as purchasing and IT have been added to the company’s headquarters, which shortens the distance between in-house units and facilities interaction with customers and suppliers.
“We are building on 150 years of experience and the 64,000 machines deployed by our customers, and pursuing new avenues of business,” says Chairman of Syntegon’s Executive Board Dr. Stefan König. “Now, more than ever before, we are working on intelligent and sustainable technologies and embracing the collaboration with our business partners in the true spirit of partnership.”
Syntegon, which stands for “synergy, technology and focus on the future,” employs 6,100 people at more than 30 locations around the world.