Apax picks up plastics specialist from Siemens

The private equity firm's Munich team has helped acquire the Mannesmann Plastics Machinery Group as part of Siemens post-acquisition divestiture of parts of Atecs Mannesmann AG.

Apax Partners has bought Mannesmann Plastics Machinery Group (MPM) for an undisclosed sum from Atecs Mannesman AG which was itself bought by Siemens in April this year.

MPM is part of Mannesmann Demag Krauss Maffei, one of the five subsidiaries of Atecs Mannesmann. Apax is buying the entire business with its six brands that include Krauss-Maffei, Demag ergotech and Van Dorn Demag.

In a statement the private equity firm said that it planned to expand the market position of the MPM Group in the international moulding and extrusion business. MPM’s products include injection-moulding machines for various applications and it supplies both the automotive and packaging industries.

The Group’s revenues totalled E1.4 bn in 2000 and it employs 7,000 people worldwide.