CVC's Syntegon sells Viersen-based operations to trade

Harriet Matthews
18 August 2020

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Syntegon Technology, a portfolio company of CVC Capital Partners, has sold its Viersen-based operations to Rotzinger, a Switzerland-based company that produces conveyor and storage systems used in the packaging industry.

The transaction comprises Syntegon's filling and sealing machine portfolios, and some of its process technology for confectionery, according to a statement. However, Syntegon will retain its jelly production portfolio, which it will transfer to its subsidiary Makat Candy Technology.

Rotzinger will rebrand the operations as Hansella following the acquisition, which was the site's original name before it was incorporated into Syntegon. Rotzinger previously acquired a minority stake in Syntegon in 2004, when it was part of Robert Bosch Group.

Syntegon was formerly known as Bosch Packaging Technology and was rebranded in January 2020. The company was acquired by CVC in a carve-out from Robert Bosch in July 2019 for a reported EV of €850m. CVC invested via CVC Capital Partners VII, which held a final close on €15.5bn in June 2017.

Syntegon reported 2018 revenues of €1.28bn and EBITDA of €42m. Based in Waiblingen, Germany, the business principally serves the pharmaceutical and food sectors, and employed 6,100 people in 15 countries at the time of CVC's investment. It generated revenues of €1.33bn in 2019.

Company
Hansella was originally founded in 1921 and was part of Robert Bosch from 1966 until 2019. The company provides filling, sealing and process technology for the packaging of confectionery, such as bars, chewing gum and toffees. The company also provides packaging for cosmetics, pharmaceutical oral liquids and liquid foods. The site at Viersen comprises development, design, production, assembly, sales and service operations.

People
CVC Capital Partners – Alexander Dibelius (managing partner).
Syntegon Technology – Stefan König (president).
Hansella (Syntegon's Viersen operations) – Jan Michaelis (managing director).
Rotzinger – Paul Schnellmann (chairman of the board of directors).

Advisers
Vendor – CMS (legal).
Acquirer – Brandi Rechtsanwälte (legal).