Munich,
September 26, 2012) Onex Corporation, a North American private equity firm, has
agreed to acquire KraussMaffei Group. The firm today signed the purchase
contract to acquire the company from Madison Capital, the owner of KraussMaffei
Group since 2006.
Onex Corporation to acquire
KraussMaffei Group
Onex Corporation today has agreed to acquire KraussMaffei Group for €568
million. The transaction is anticipated to close by March 31, 2013 subject to
customary conditions und regulatory approvals. “KraussMaffei is a global leader
in each of its three segments, with a decades-long reputation for technology
and quality”, said David Mansell, an Onex Managing Director. “We look forward
to working with Jan Siebert and his management team to further build on the
company’s market leading position”. KraussMaffei is the first European-based
investment for Onex Partners III.
Relevant experience based on former and existing
investments
In 2012, KraussMaffei made successful steps to strengthen the business in its
core markets as well as to expand its global presence in growing markets,
particularly the BRIC countries and Asia. “Building on our recent success, we
see good opportunities to further grow the company. I am very pleased to be
partnering with Onex given its track record and experience in our industry. I
am looking forward to working with this experienced and successful company”,
CEO Jan Siebert said. “I would like to thank Madison Capital for a reliable and
trustful partnership over the last six years. The firm supported our strategy
and business activities successfully, especially throughout the worldwide
crisis in 2008 and 2009”.
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