Onex exits KraussMaffei to ChemChina for €925m

KraussMaffei's last reported EBITDA was €140m. Onex stated that upon completion of the transaction, Onex Group, which acquired the company in 2012, will receive proceeds of approximately €670m, while Onex Corporation will receive €180m, including carried interest of €12m.

During the investor's holding period, growth initiatives included investments in new products development.

Previous funding
Onex acquired KraussMaffei for €568m from US private equity firm Madison Capital Partners in October 2012.

An equity investment of around $340m was made through Onex Partners III, the firm's $4.7bn private equity fund, to support the transaction. The investment was the first in Europe for Onex Partners III.

Company
Based in Munich and founded in 1838, KraussMaffei specialises in the design and manufacturing of machinery and systems for plastics and rubber processing. The company manufactures injection moulding machinery, extrusion technology and reaction process machinery.

KraussMaffei has around 4,500 employees and operates manufacturing facilities in Germany, Switzerland, Slovakia and China. Revenues for 2014 totalled around €1.1bn and are expected to have risen by 10% in 2015.

People
Onex – David Mansell (managing director).
KraussMaffei – Frank Stieler (CEO).

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