MINNEAPOLIS (June 6) — Madison Capital Partners, a Chicago-based investment group, has agreed to buy Mannesmann Plastics Machinery A.G., parent of the German extrusion technology firm Berstorff A.G.
Chicago-based Madison Capital is buying MPM from New York buyout specialist Kohlberg Kravis Roberts & Co., which has owned the plastics machinery specialist since 2002.
Terms of the deal, expected to close in July, were not disclosed.
Besides Hannover, Germany-based Berstorff, MPM owns injection molding machinery makers Krauss-Maffei Kunststofftechnik, Demag Plastics Group and Netstal. It generated 2005 sales of $1.6 billion and employs about 6,000 at factories in Germany, Switzerland, the U.S., China and India.
Madison Capital already owns two plastics machinery companies: Brown Machine L.L.C., which makes thermoforming equipment in Beaverton, Mich.; and Fremont, Ohio-based plastics machinery remanufacturer Epco Machinery L.L.C.
The investment group also owns gasket extruders Holm Industries Inc. of Scottsburg, Ind., and Industrie Ilpea S.p.A. in Malgesso, Italy.