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.

KraussMaffei expands plants in Slovakia and China

The KraussMaffei Group has decided to double production capacities in Martin (Slovakia) and in Haiyan (China). The production area of the Haiyan plant will be increased from 12,000 m2 to around 22,000 m2 to expand the capacities for reaction and extrusion machines and to start the production of Netstal and KraussMaffei injection molding machines for PET applications and injection molding machines of the MX series. The production area of the the Martin plant will be increased from 6,600 m2 to 13,000 m2 to expand the production of robots and injection molding machines of the EX series as well as machines and plants for reaction and trimming technology. At present, KraussMaffei injection molding machines of the AX series, as well as switch cabinets and molds, are manufactured at this location. For both sites, the start of production is planned for the beginning of 2013.