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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» Download: Press Release of ONEX Corporation