Onex targeted KraussMaffei for some time

09/28/2012

KraussMaffei formally came onto Onex' acquisition radar late in the first half of this year, but the private equity giant had been interacting with the venerable German maker of plastics processing machinery for some time, including meetings at the last K show in 2009, as well as this year's NPE and Chinaplas events.

Those discussions, and additional due diligence, left Onex with a favorable impression of the Munich-based machinery business and prompted the Toronto firm to make its third investment in the plastics machinery market in the last five years.

"We thought [KraussMaffei] was a phenomenal business in the industry," David Mansell, a managing director at Onex, told PlasticsToday, noting that knowledge gleaned from the purchase of Husky in 2007 and subsequent sale in 2011, as well as the late 2011 acquisition of Davis-Standard helped inform its strategy with KraussMaffei....
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