Bonn-based blow molding machinery maker Kautex Maschinenbau GmbH has a new majority owner — Plastech Beteiligungs GmbH, an industrial holding company from Vienna.
Kautex announced the news Jan18. Terms were not disclosed.
Plastech bought the 79.4 percent share in Kautex previously held by Berlin investment company Capiton AG, which acquired its interest in the machinery maker in 2013.
The Kautex management team will remain in place under CEO Olaf Weiland and Andreas Lichtenauer, managing director, and will retain a significant investment in the company.
Kautex generated sales of 140 million euros in 2017 ($168 million), up from 60 million euros in 2006.
Weiland said the majority acquisition by Plastech will help Kautex grow. "We particularly like the company's focus on the plastics technology sector, on profitable growth achieved with a customer-centric approach, innovation and digitization, and on taking a long-term approach to business," he said.
Under the ownership of Capiton, Kautex invested in an expansion at its Bonn factory and further developed its customer service and packaging business.