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

Image

Delphi buying connector maker Antaya

September 22, 2014 2:25 pm ET

Delphi Automotive plc will buy Antaya Technologies Corp., a Rhode Island company that supplies wire harnesses and other technologies that connect...    More

Image

New medical firm buys Clairson Plastics

September 19, 2014 4:33 pm ET

Custom injection molder Clairson Plastics is being sold to a new start-up that plans to dive into the medical market with a new dialyzer, a key...    More

Image

Hong Kong's TK eyes expansion, may buy Nypro Tool operation

September 19, 2014 2:49 pm ET

Hong Kong-based mold maker and plastics processor TK Group (Holdings) Ltd. said it's reached a tentative agreement to buy a tooling factory in...    More

Exo-s buys injection and blow molder in Mexico, expands footprint

September 19, 2014 2:15 pm ET

Custom molder Exo-s Inc. has bought an injection and blow molding operation in San Juan del Rio, Querétaro, Mexico.    More

Image

Bayer spinning off plastics business

September 18, 2014 8:49 am ET

Bayer AG will spin off its MaterialScience plastics group into a separate, publicly-traded company within the next 12 to 18 months.    More

Market Reports

Plastics Caps & Closures Market Report

The annual recap of top trends and future outlook for the plastics caps & closures market features interviews with industry thought leaders and Bill Wood’s economic forecast of trends in growing end markets. You will also gain insight on trends in caps design, materials, machinery, molds & tooling and reviews of mergers & acquisitions.

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

Thermoformed Packaging 2014 Market Review & Outlook – North America

This in-depth report analyzes economic and market trends, legislative/regulatory activity impacting supply and demand, business opportunities and threats, materials pricing, manufacturing technology, as well as growth strategies being implemented by thermoformed packaging companies.

Learn more

Upcoming Plastics News Events

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

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

More Events