Apollo acquires 37% stake in Syntegon from CVC Capital Partners

USA—CVC Capital Partners has announced that an investor group led by Apollo-managed funds is acquiring a 37% minority stake in Syntegon, the global packaging technology leader headquartered in Stuttgart, Germany.

CVC is maintaining its 63% majority shareholding, reaffirming its long-term commitment to the company.

The transaction, which remains subject to customary regulatory approvals, marks the beginning of what both firms describe as Syntegon’s next major growth phase.

From spinoff to market leader

Since CVC’s partnership with Syntegon began in 2019, the company has undergone a sweeping transformation.

Through strategic acquisitions, operational improvements, and a sharpened focus on the pharmaceutical, biotechnology, and food sectors, Syntegon has quadrupled its profitability.

The company strengthened its pharma liquid segment by acquiring Telstar in 2024 and expanded its presence in Asia through a majority stake in Klenzaids in 2023.

Today, Syntegon manages the world’s largest installed base of approximately 72,000 technically complex systems and holds a portfolio of around 2,000 patents and patent applications.

The company posted record revenue of EUR 1.75 billion (USD 1.9 billion) in 2025, with EBITDA rising 27% year-on-year to EUR 282 million (USD 307 million).

Among its standout innovations is SynTiso, the world’s first gloveless high-speed filling line for liquid pharmaceuticals.

Strategic rationale behind the deal

Marc Strobel, Chairman of Syntegon’s Supervisory Board and Partner at CVC, credited CEO Torsten Türling and his team for building a company that leads in highly regulated and technologically complex markets.

Can Toygar, also a CVC Partner and Supervisory Board Member, described the transaction as a natural progression, noting that the transformation phase is complete and that Apollo brings the right capabilities to drive the next leg of growth.

Jeremy Honeth, Partner at Apollo’s Hybrid Value division, highlighted Syntegon’s central role in pharmaceutical, biotech, and food supply chains as a key reason for the investment, pointing specifically to strong growth prospects in North America.

What comes next

Looking ahead, Syntegon aims to capture greater share in mission-critical, largely non-cyclical end markets.

The company plans to prioritize expansion in the United States, where Apollo’s North American expertise and networks will play a meaningful role.

Management will also focus on unlocking the substantial service potential tied to Syntegon’s globally unmatched installed base.

The company will continue operating under its existing leadership team from its Stuttgart headquarters, ensuring continuity for employees, customers, and partners.