AGIC sells KraussMaffei to Chemchina

The sale is the first exit for AGIC's Asia-Germany Industrial Promotion Capital I vehicle, a $1bn fund that held a final close in February 2017 and is approximately 50% deployed, according to Unquote Data.

It acquired the company for €925m in January 2016, teaming up with Chemchina and Guoxin Investment Corporation to make up the equity syndicate.

AGIC recently announced the appointment of former Equistone partner Sam Breuning to head up its newly opened UK office.  

Previous funding
AGIC's acquisition of KraussMaffei from Onex was backed by a €625m debt package arranged by Unicredit and Natixis.

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.

People
KraussMaffei – Frank Stieler (CEO).

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• Topics
• Exits
• DACH
• Industrials
• Germany
• Trade sale