Onex achieves 24 pct gross return on sale of KraussMaffei

Canadian private equity firm Onex Corp has closed its sale of German plastics processing machinery maker KraussMaffei Group to a consortium led by China National Chemical Corp (ChemChina). Announced in January, the deal was valued at about US$1 billion (€925 million). Onex, which acquired KraussMaffei from Madison Capital in December 2012, said it received proceeds of US$747 million on a US$358 million investment. This result gave the firm a gross multiple of invested capital of 2.1 times and a 24 percent gross rate of return, Onex reported.

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