29 March 2007 – A five-strong management team backed by private equity firm Steadfast Capital has bought blow moulding equipment maker Kautex Maschinenbau from Adcuram, another private equity player which acquired the Battenfeld injection moulding machine business last year.
Kautex was bought by Adcuram from SIG in 2004 and has subsequently developed its position under a new management team. According to Steadfast, which specialises in buying spin-offs from larger groups in Germany and neighbouring countries, Kautex boosted service capabilities as well as sales, profits and employees under Adcuram’s ownership.
Olaf Weiland, managing director of Bonn-based Kautex, said the firm is looking forward to working with its new owner. “Kautex customers have responded favourably to the changes in recent years and now we are offered the opportunity to further build on the successful development,” he commented.
At Steadfast Capital, partner Clemens Busch added: “The management team under the leadership of Olaf Weiland was highly convincing from the outset.” He predicts that operating independently and as entrepreneurs will boost Kautex’s position, especially in the packaging sector, one of its key markets along with automotive fuel tanks and industrial applications.
