Bosch Packaging Technology Becomes Syntegon
Known as Bosch Packaging Technology until late 2019, the former Bosch division is now an independent enterprise at the company headquarters in Waiblingen, Germany. Syntegon Technology’s business focus is on intelligent and sustainable technologies for the pharmaceutical and food industries. Extending the service range is a priority for the company. Syntegon Technology employs 6,100 people at more than 30 locations worldwide. Bosch disclosed its plans to sell the packaging machinery division to a newly incorporated entity managed by CVC Capital Partners, a private equity and investment advisory firm, in July 2019. The transaction was completed according to plan, with the company gaining full independence at the turn of the year.
The sale of Bosch Packaging Technology was completed on January 2, 2020, as envisioned. Bosch had announced in June 2018 that it intended to sell its packaging division, finding a buyer a year later in CVC Capital Partners (CVC). Bosch Packaging Technology then expanded its headquarters in Waiblingen, Germany, augmenting it with new departments required for the switch. Business developments remained stable in the interim, bucking the trend in the sluggish machine engineering sector. Sales in 2019 came to 1.3 billion euros, matching the previous year’s figure.
The new owner, CVC, aims to develop the company as a whole and expand intra-group synergies. “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,” said Marc Strobel, a partner at CVC Capital Partners.
Syntegon Technology has intensified its efforts to develop intelligent and sustainable technologies. Drawing on a deep well of experience in developing and integrating software solutions, the company uses connected components as well as components enhanced with artificial intelligence to this end. It puts a premium on ensuring sophisticated technologies are simple to use. The greater goal is to collect and evaluate data to avoid machine downtime, maximize product quality, and optimize overall plant efficiency.
The enterprise is pursuing two approaches to produce sustainable packaging — one is to use mono materials rather than conventional multilayer films, and the other is to use paper packaging as an alternative to plastic.