In late September, Onex Corp., a Toronto-based private-equity firm, agreed to acquire the KraussMaffei Group of Germany for around $735 million from Madison Capital, which had owned KraussMaffei since 2006. Onex also owns Davis-Standard, the leading North American extrusion equipment supplier. It previously owned Husky International, the Canadian injection machinery and tooling supplier, acquiring it in 2007 for $622 million and selling it last year for $2.1 billion to a pair of private-equity firms.
Meanwhile, all KraussMaffei business activities in the U.S. are being consolidated under one roof in Florence, Ky. KM’s injection molding, polyurethane, and Berstorff extrusion/compounding activities are already located there. Netstal USA, however, is moving from Devens, Mass., to Florence.