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Navigator Capital acquires Sapal from Bosch Packaging Technology

September 6, 2017

The Navigator Group is planning to acquire the engineering company Sapal S.A., Ecublens, Switzerland, from Bosch's Packaging Technology division. Corresponding contracts were signed on September 5, 2017.

Sapal is part of the packaging machinery division of the Bosch Group, focused on diefold packaging. It has more than 6000 installed plants worldwide. With the takeover by the Navigator Group, about 80 employees will have a long-term perspective in the focused development of an independently operating unit.
The production site in Ecublens has a long history. The company was founded by Jean-Jacques Köhler in 1906. In 2004, Sapal became part of Bosch’s packaging division through the takeover of SIG Group by BOSCH. Today, Sapal is one of the technology leaders in diefolding packaging of cheese under the Kustner brand, and of soup cubes and chocolate.
The Navigator Group acquires Sapal through a share deal. The parties agreed on the non-disclosure of the purchase price. The acquirer was particularly impressed by the numerous certifications, a traditional focus on education and training, the product and customer quality, the excellent machinery and the highly motivated and qualified employees. At the same time, Navigator Capital was able to convince the seller with experience, motivation, and a sustainable investment strategy.
The Navigator Group sees itself as an active investor who is providing advice and assistance to the acquired companies without curtailing the necessary self-initiative on the ground. Therefore, it was important for Navigator Capital that Sapal’s management, which is highly experienced and well-regarded by customers and workforce alike, will stay on board.
"I had a very good impression at the very first contact: quality of the machines, market potential, and highly motivated employees form an excellent basis for further development of the company," said Dietmar Gundel, partner of Navigator Group.
"As a stand-alone company, we see a good opportunity for Sapal to flexibly operate the business in this volatile niche market and to continue to develop profitably in the long-term. In addition, since there is hardly any synergy potential with other Bosch Packaging Technology divisions, we decided to sell Sapal to the Navigator Group," explains Jakob Bleiker, head of business unit food, Bosch Packaging Technology.
Claudio Manfroni, former and future CEO of Sapal S.A., said, "We have conducted many investor discussions. The positive momentum of the Navigator group was from the beginning and has steadily increased during the course of the audit process. I am convinced that with the Navigator Group, we have found a suitable new owner with whom we can successfully drive the business of Sapal."
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