Capiton buys stake in Germany's Kautex Group

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Berlin-based investment company Capiton has purchased Steadfast Capital's stake in blow moulding machinery company Kautex Maschinenbau.

Since leaving SIG Group in 2004, Bonn-based Kautex Maschinenbau has grown and now has annual sales of more than €100m. That's up from about €63m during the recession year of 2009.

"Over the last six years, our close working relationship with Steadfast Capital has helped us to increase the Kautex Group's sales by 75%, despite the slump in demand experienced in 2008 and 2009," said Olaf Weiland, CEO of Kautex Maschinenbau, in a news release.

"We have invested in design and development, sales and customer service, and we are particularly proud of our new Technikum, which we opened in 2012," he said.

Capiton's purchase was approved 18 January by Germany's Federal Cartel Authority. Terms were not disclosed.

The purchase also marks a milestone for Kautex managers, which now own a majority in the equity of the company: 50.1%.

Kautex management and Munich-based Adcuram Industriekapital bought the company from SIG. When Steadfast bought out Adcuram's share, Kautex managers owned 23% of the equity.

Weiland said Kautex is now the leader in the global market for extrusion blow moulding machines. Kautex has long been known for machines to mould multilayer plastic tanks and industrial parts, but in recent years it has pursued business machine machines for consumer and industrial packaging.


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