CVC Capital Partners ("CVC") has announced that Apollo-managed funds are acquiring a 37% minority stake in Syntegon, the pharmaceutical and biotech packaging and processing equipment manufacturer.
The transaction, announced this morning, leaves CVC holding the remaining 63% of shares. Closing remains subject to customary regulatory approvals, with financial terms undisclosed.
Syntegon posted record revenue of €1.75bn in 2025, with EBITDA rising 27% year-on-year to €282m—a quadrupling of operating profit since CVC's original investment in 2019.
The company, headquartered in Stuttgart, operates across the full pharmaceutical, biotechnology and food manufacturing lifecycle and holds approximately 2000 patents and patent applications.
In its statement, CVC laid out the strategic rationale for the move, which centres on two areas: US market penetration and aftermarket services.
Apollo's North American expertise is expected to support Syntegon's push into what the company describes as "mission-critical and largely non-cyclical" end markets, where regulatory complexity and high switching costs create durable competitive moats.
The second pillar is service revenue. Syntegon manages the world's largest installed base in its sector (approximately 72,000 highly complex systems across pharma, biotech and food production), representing a significant and largely untapped opportunity for lifecycle services, upgrades and compliance support.
Syntegon added that innovation remains central to its growth thesis.
The company recently launched SynTiso, described as the world's first gloveless high-speed filling line for liquid pharmaceuticals—a development with direct implications for sterile manufacturing operations seeking to reduce contamination risk and improve throughput.
Recent M&A has further broadened the portfolio: the 2024 acquisition of Telstar strengthened Syntegon's liquid pharma capabilities, while the 2023 majority stake in Klenzaids extended its footprint across Asian markets.
CEO Torsten Türling, who will continue to lead the business, described the transaction as "a milestone," adding that Apollo brings "valuable new momentum" alongside CVC's continued strategic oversight.
Marc Strobel, Chairman of the Supervisory Board of Syntegon and Partner at CVC, said: "The team around CEO Torsten Türling has done an outstanding job establishing the company as a leading provider in highly regulated and technologically complex markets."
Bringing on board a minority shareholder offers the best conditions to further accelerate Syntegon's growth globally.
"We have great confidence in the company's long-term prospects and its significant potential within a market characterised by strong structural growth. We are delighted to welcome Apollo as a new partner."
Jeremy Honeth, Partner, Hybrid Value at Apollo, added: "Syntegon has established itself as a technology leader at the heart of mission-critical pharma, biotech and food supply chains."
Together with CVC and management, we see a clear path to continue this strong growth trajectory, particularly in North America and we are excited to support Syntegon in this next phase of its development.