TORONTO—Private equity firm Onex Corp. has completed its $732 million purchase of German machinery maker KraussMaffei Group.
The acquisition by the Toronto-based company was announced in September. At that time, Onex Managing Director David Mansell described Munich-based KraussMaffei as a global leader in each of its three segments. He later said there are no plans to break up the machinery maker.
KraussMaffei—which makes injection molding machines, extruders and reaction process machinery for plastics and polyurethane parts manufacturing—has plants in four countries, worldwide sales of nearly $1.3 billion and employs 4,000.
The firm was owned since 2006 by another private equity firm, Madison Capital Partners of Chicago.