Onex Corporation (“Onex”) announced that it has completed the acquisition of KraussMaffei Group, a leading manufacturer of plastic and rubber processing equipment, for € 568 million. Onex Partners III invested US$353 million, of which Onex’ share is about US$89 million as a limited partner in the Fund.
The KraussMaffei Group is among the world’s leading suppliers of machinery and systems for producing and processing plastics and rubber. Its products and services cover the whole spectrum of injection and reaction molding and extrusion technology, giving the company a unique position in the industry. The KraussMaffei Group is innovation-powered, supplying its products, processes and services as standard or custom solutions which deliver sustained added value along the customer’s value-adding chain. The company markets it’s offering under the KraussMaffei, KraussMaffei Berstorff and Netstal brands. With a global network of over 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.