GERMANY – Bosch Packaging Technologies, the former packaging machinery business of Bosch, has rebranded as Syntegon Technology, following its recent acquisition by Luxembourg- based CVC Capital Partners.
Bosch agreed to sell the business to CVC Partners in July last year in transaction that included its 6,100 associates in 15 countries.
By then, Bosch said that the divestment would allow it to consolidate its resources as it focuses on mobility and connectivity over the internet of things.
The deal closed on 2 January and Bosch Packaging will now operate as an independent entity – Syntegon Technology.
Whereas the Bosch Packaging had been part of a large corporation with diverse divisions, Syntegon now claims that it is well positioned to create a business framework that is an “even better fit for the industry.”
The company will move forward with a strong focus on “intelligent and sustainable technologies for the pharmaceutical and food industries”.
Syntegon claims that this new setup will enable it to enhance its profile as a leading processing and packaging company. Syntegon currently operates in more than 30 sites globally employing 6,100 and generating sales worth €1.3 billion in 2019.
In line with its fresh brand, Syntegon Technology aims to set new priorities for services and improve its processes.
One goal is to reduce response times to customer enquiries; another is to further increase the availability of service technicians.
The company is also looking to invest in a customer and technology center at its Waiblingen headquarters, while also aiming to attract mire medium-sized enterprises and startups.
Marc Strobel, a partner at CVC Capital Partners said: “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.”
Chairman of the Executive Board, Dr. Stefan König added: “We are building on 150 years of experience, the 64,000 machines deployed by our customers and pursuing new avenues of business.
“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.”