Onex to acquire KraussMaffei

Onex Corporation, a North American private equity firm, has agreed to acquire KraussMaffei Group from Madison Capital, the owner of KraussMaffei Group since 2006, for €568 million. The transaction is anticipated to close by March 31, 2013 subject to customary conditions und regulatory approvals.
KraussMaffei is the first European-based investment for Onex Partners III. In 2012, KraussMaffei made successful steps to strengthen the business in its core markets as well as to expand its global presence in growing markets, particularly the BRIC countries and Asia.
The KraussMaffei Group is among the world’s leading suppliers of injection and reaction molding and extrusion machinery and systems, under the KraussMaffei, KraussMaffei Berstorff and Netstal brands, with a strong reputation the automotive, packaging, medical, construction, electrical, electronics and home appliance industries. The international KraussMaffei Group currently employs around 4,000 people. With a global network of more than 30 subsidiaries and more than 10 production plants, supported by around 570 sales and service partners, the company is close to customers around the world.
Onex is one of North America’s oldest and most successful private equity firms. In total, the company manages approximately $14 billion, of which $9 billion is third-party capital. As well, Onex invests its own proprietary capital of approximately $5 billion directly and as a substantial limited partner in its Funds. Onex’ businesses have assets of $39 billion, generate annual revenues of $34 billion and employ approximately 235,000 people worldwide. With a Onex acquired Husky International Ltd in December 2007 for $622 million. On June 2011, Onex completed the sale of Husky International for $2.1 billion.