Apollo Global Management is in discussions to acquire a minority interest in German packaging machinery developer Syntegon, reported Bloomberg, citing sources.
The stake mentioned is said to be “significant”, though the exact size was not disclosed.
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Sources indicate that Apollo has edged ahead of other private equity bidders for the stake, with a potential agreement expected soon.
The possible deal could value Syntegon at as much as €4bn ($4.6bn). However, negotiations are ongoing and could be extended or fall through.
According to the unnamed sources, alternative bidders could also appear.
Both Apollo and Syntegon’s owner CVC Capital Partners have refused to comment.
Previously called Bosch Packaging Technology, Syntegon supplies equipment to pharmaceutical and food sector clients. It was acquired by CVC from Robert Bosch in 2019.
Financial details of that deal were not made public, but one person familiar with the transaction valued it at approximately $1bn.
Efforts by CVC to divest all of Syntegon last year attracted both financial and strategic suitors, according to a previous Bloomberg News report.
Last year, Syntegon launched its latest MLD Advanced filling machine, tailored for ready-to-use (RTU) nested syringes.
The machine can gently process up to 400 syringes per minute. It incorporates automatic bag and tub openers, using no-touch transfer to maintain the aseptic integrity of syringes as they move into the filling zone.
In 2021, Apollo invested in Italian recycled coated cartonboard manufacturer Reno De Medici.
