Based in Munich, Germany, since 1838, KraussMaffei is a global leader in the design and manufacturing of machinery and systems for the processing of plastics and rubber. The company manufactures machinery for the injection moulding, extrusion, and reaction process segments. Through its KraussMaffei, KraussMaffei Berstorff and Netstal brands, the company serves customers in many sectors including the automotive, packaging, medical and construction industries. KraussMaffei has approximately 4,000 employees and operates key manufacturing facilities in Germany, Switzerland, Slovakia, and China. For the twelve months ended 30 June 2012, the company generated approximately EUR 1.0 billion in revenues. "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. 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, Chief Executive Officer Jan Siebert said. "With Onex' backing, we intend to strengthen our global presence and build on our success at the high-end of the industry. "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, Siebert said. "KraussMaffei is the first European-based investment for Onex Partners III, and, like many of our existing businesses, serves markets globally, said Tony Morgan, a Managing Director in Onex' London office. "I look forward to working with my colleagues to find similar investment opportunities as we build our business in Europe. Onex Partners III, Onex' USD 4.7 billion flagship private equity fund, will make an equity investment of approximately USD 340 million, of which Onex' share is about USD 86 million as a limited partner in the fund. Including this transaction and the recently announced acquisition of SGS International, the fund will be approximately 60 % invested. Onex is one of North America's oldest private equity firms, managing investment platforms focused on private equity, real estate, and credit securities. In total, the company manages approximately USD 14 billion, of which USD 9 billion is third-party capital. Onex invests its approximately USD 5 billion of proprietary capital directly and as a substantial limited partner in its funds. Onex' businesses have assets of USD 39 billion, generate annual revenues of USD 34 billion and employ approximately 235,000 people worldwide.