Blue Cap AG, a Munich-based investment firm specializing in industrial SMEs, has announced a strategic majority acquisition of AHP Merkle’s packaging division. This move strengthens Blue Cap’s portfolio in the industrial packaging sector and marks a targeted expansion in an area where resilience, customization, and sustainable innovation are increasingly in demand.

The acquisition, finalized in April 2025, includes the operational and production units of AHP’s protective and technical packaging business. This unit, based in Germany, has established itself as a provider of high-performance, tailor-made packaging solutions for industrial and medical applications.

Strategic intent: strengthening packaging within Blue Cap’s industrial cluster

The packaging business will be integrated into Blue Cap’s growing industrial technology cluster, a segment that already includes successful companies in manufacturing, printing, and advanced materials. According to Blue Cap, the acquisition is aligned with its mission to support companies with strong fundamentals and niche specialization.

“With this transaction, we are reinforcing our industrial packaging vertical with a high-value company that combines precision engineering and material know-how,” said Dr. Hannspeter Schubert, CEO of Blue Cap AG. “We see great potential in leveraging synergies with our existing portfolio and in scaling AHP’s packaging capabilities internationally.”

Key strengths of the acquired business:

• Focus on technical and protective packaging for machinery, med-tech, and industrial goods
• Proprietary design capabilities and in-house manufacturing
• High client retention due to customized solutions and engineering expertise
• Strong positioning in Germany with potential for EU and global expansion

With this acquisition, Blue Cap not only diversifies its industrial portfolio but also taps into the resilient demand for protective packaging—particularly in sectors like medical technology, which require compliance, traceability, and robust materials. The target company's core capabilities in design and fabrication provide an advantage as industrial clients demand more customized, sustainable, and high-performing packaging systems.

Trends boosting the industrial packaging market:

• Increased automation driving demand for precise and durable packaging formats
• ESG compliance requiring recyclable and reusable materials in technical packaging
• Demand for traceability in sectors like med-tech and electronics packaging

Blue Cap’s investment comes at a time when the packaging industry is undergoing rapid transformation, balancing between cost control and sustainability. Industrial packaging, while often under the radar compared to consumer-facing segments, plays a critical role in global supply chains and is poised for innovation-driven growth.

Looking ahead, Blue Cap plans to support the packaging division’s growth with investments in automation, digitalization, and potential bolt-on acquisitions in related technologies. The firm remains committed to long-term value creation by fostering innovation, operational excellence, and cross-company collaboration.

Conclusion: The acquisition of AHP Merkle’s packaging business marks another step in Blue Cap’s strategy to become a leading industrial group in Europe, with packaging as a key pillar. For the packaging sector, it signals a renewed investor interest in specialized, engineering-based packaging solutions that are both functional and future-ready.