Onex closes acquisition of KraussMaffei

By Frank Esposito
Senior Staff Reporter

Published: December 28, 2012 6:00 am ET

Related to this story

Topics Mergers & Acquisitions, Machinery

TORONTO (Dec. 28, 4 p.m. ET) — Toronto private equity firm Onex Corp. has completed its $732 million purchase of German plastics machinery maker KraussMaffei Group.

Onex officials confirmed completion of the deal in a Dec. 28 news release. The transaction first was announced in September. At that time, Onex Managing Director David Mansell described Munich-based KraussMaffei as “a global leader in each of its three segments, with a decades-long reputation for technology and quality.”

Mansell later said Onex officials did not “have any plans to break up KraussMaffei.”

KraussMaffei employs 4,000 worldwide and had sales of almost $1.3 billion in the fiscal year ended June 30. The firm had been owned since 2006 by private equity investor Madison Capital Partners of Chicago. KraussMaffei makes injection molding machines, extruders and reaction injection molding machines at plants in Germany, Switzerland, Slovakia and China.

When the deal was announced, KraussMaffei CEO Jan Siebert said officials with his firm saw “good opportunities to further grow the company.”

For Onex, the deal marks another big investment in the plastics machinery sector. The firm owned Husky Injection Molding Systems Ltd. for almost four years before selling it to Berkshire Partners LLC for $2.1 billion in 2011. Onex cleared a profit of more than $1 billion when it sold Husky.

Later in 2011, Onex bought extrusion systems maker Davis-Standard LLC for an undisclosed price.


Comments

Onex closes acquisition of KraussMaffei

By Frank Esposito
Senior Staff Reporter

Published: December 28, 2012 6:00 am ET

Post Your Comments


Back to story


More stories

Unipex Group buys Ferguson Chemical Innovation

July 29, 2014 1:57 pm ET

Chemical distributor Unipex Group Inc. announced July 29 that it had purchased Ferguson Chemical Innovation, a Brampton, Ontario-based supplier of...    More

Image

Universal Polymer beefing up capabilities through acquisition

July 29, 2014 12:04 pm ET

Universal Polymer & Rubber Ltd. is growing again and adding to its capabilities, this time via another acquisition and a plant expansion.    More

Image

Reynolds considering sale of Closure Systems International unit

July 29, 2014 10:32 am ET

Packaging giant Reynolds Group Holdings Ltd. has put its closures business under review.    More

Image

Carbon black supplier Orion begins trading on NYSE

July 29, 2014 11:29 am ET

Orion Engineered Carbons S.a.r.l. has priced the initial public offering of 19.5 million common shares at a price to the public of $18 per share.    More

Image

Evonik sells polyimide foams operation to Boyd

July 29, 2014 10:46 am ET

Modesto, Calif.-based Boyd Corp., a manufacturers of specialty material and sealing agents, has purchased Evonik Industries’ Solimid...    More

Market Reports

Plastics Recyclers Data Report & Directory

This exclusive MS Excel database contains all the companies from Plastics News' ranking of top North American Recyclers and Brokers by reprocessed volume and also includes a directory with materials processes, services offered and company contact information. Data is based on primary research by PN editorial staff.

Learn more

2014 Injection Molding Industry Report

GROWTH, OPPORTUNITY IN SIGHT FOR INJECTION MOLDERS IN 2014

In the wake of the economic turbulence earlier in this decade, molders today find themselves in much better shape. Molders are gaining a competitive advantage by investing in people, equipment and seeking inroads into new markets on a global scale.

Growth in the injection molding industry is going to be driven by low financing costs and a continued move to reshore some business.

Learn more

Shale Gas Market - Analysis of North American Region

This report highlights the impact of shale-based natural gas on the North American plastics market and features an in-depth analysis of production trends in the United States during 2013 and a forecast for 2014 and beyond.

Learn more

Upcoming Plastics News Events

September 10, 2014 - September 12, 2014Plastics Caps & Closures 2014

January 14, 2015 - January 14, 2015Plastics in Automotive

February 4, 2015 - February 6, 2015Plastics News Executive Forum 2015

More Events