CVC Capital Partners (CVC) announced that an investor group led by Apollo-managed funds is acquiring a 37% minority stake in Syntegon from CVC. Based on Syntegon’s development, CVC is reaffirming its commitment and maintaining its majority shareholding with the remaining 63% of shares.
This transaction marks the starting point for Syntegon’s next phase of growth. The team at Apollo shares the strategic vision of CVC and Syntegon and strengthens the partnership with new momentum and local expertise for the North American market.
Torsten Türling, CEO of Syntegon, said, “This transaction marks a milestone for Syntegon. CVC remains the ideal partner for us and we are pleased to continue our successful collaboration. At the same time, we are gaining valuable new momentum with Apollo. Our current position is the result of an outstanding performance of our global team. In recent years, we have expanded our product portfolio with outstanding innovations while improving our operational excellence. Today, we are the leading strategic partner for our customers and serve the industry’s largest installed base of approximately 72,000 technically highly complex systems.”
Focus on Expansion in the North American Market
In the next growth phase, Syntegon aims to gain further share in mission-critical and largely non-cyclical growing end markets. A focus is on the expansion in the U.S., where Apollo’s aims to provide new momentum.
Under the existing management, Syntegon continues to operate from its headquarters in Stuttgart and will build on its growth trajectory.
The transaction is subject to customary regulatory approvals. The parties have agreed to maintain confidentiality regarding the financial details of the agreement.
