As editor of A German newspaper is reporting that machinery company Krauss Maffei GmbH is considering filing for an intial public offering. The Munich, Germany-based company currently is owned by Chicago-based private equity firm Madison Capital Partners.
The story comes from leading financial newspaper Frankfurter Allgemeine Zeitung, so it has a ring of truth. Here's an abbreviated copy of the German language version, for those of you with advanced language skills.
The Thomson Financial news service picked up the story from FAZ, and notes that Krauss Maffei Chairman and Chief Executive Officer Dietmar Straub also revealed that the company generated a profit of 72 million euros on sales of 950 million euros last year.
Straub declined to comment on whether the company may be planning an IPO, according to the reports.
This is a busy week for European machinery news, following the surprise announcement that Austrian press maker Battenfeld Kunststoffmaschinen Gesellschaft mbH had filed for insolvency on Jan. 3, shortly after being sold by private equity firm Adcuram.