OREANDA-NEWS. September 26, 2012. Onex Corporation (“Onex”) (TSX: OCX) today announced that it has agreed to acquire KraussMaffei AG (“KraussMaffei”), a leading manufacturer of plastic and rubber processing equipment, for €568 million. The transaction is anticipated to close by March 31, 2013 subject to customary conditions and regulatory approvals.

 Based in Munich, Germany, 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 molding, extrusion and reaction process segments. KraussMaffei has approximately 4,000 employees and operates key manufacturing facilities in Germany, Switzerland, Slovakia and China. For the twelve months ended June 30, 2012, the company generated approximately €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.”

 “We’re very pleased to be partnering with Onex given its track record and experience in our industry,” commented Jan Siebert, Chief Executive Officer of KraussMaffei. “With Onex' backing, we intend to strengthen our global presence and build on our success at the high-end of the industry.”

 “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.