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Leo III fund has acquired Ampack GmbH and Osgood Industries from CVC-backed Syntegon
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Friday, 16 August, 2024, 08 : 00 AM [IST]
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Munich
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Dubag Group has announced the closing of its first transaction within their exclusively managed Leo III fund shortly following the start of the investment phase.
Syntegon, a group specialized on processing and packaging technologies with over 6,300 employees worldwide and a portfolio company of private equity firm CVC, selected the DUBAG and the LEO III fund as new home for its subsidiaries Ampack GmbH, based in Koenigsbrunn, Germany, and Osgood Industries LLC, located in Oldsmar, Florida, USA.
The companies develop forming, filling and sealing machines for cups and bottles used by dairies and food manufacturers to package liquid and viscous foods to the highest hygiene standards. Use cases include dairy products, yogurt, dips, and delicatessen salads.
Dr Michael Schumann, CEO of DUBAG Group, said, “Ampack and Osgood are strong companies in an attractive market with long-term growth potential. Both companies have an excellent reputation for quality, product range, and expertise. We will work to take their business forward in the coming years and make it even more competitive.”
For Syntegon, on the other hand, the sale of its two subsidiaries is the next step in focusing on its key business. Torsten Tuerling, CEO of Syntegon, said, “I am convinced that Ampack and Osgood with their more than 2,800 machines installed at many customer sites around the globe will have a good chance for substantial and sustainable growth with DUBAG. We are glad to have found a new owner with a clear strategy to develop this already successful business further.”
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