Vienna-based Plastech Beteiligungs has agreed to acquire a 74.9% stake in extrusion blow molding machines manufacturer Kautex Maschinenbau Group.
Plastech takes over from the previous investor, Capiton AG, which acquired its shares in January 2013.
Subject to the approval of competition authorities, the deal is expected to complete by the end of March this year.
Kautex produces all-electric KBB extrusion blow molding machines for consumer packaging applications. The KBB machinery portfolio includes KBB20, KBB40, KBB60, KBB80 and KBB100.
The company also produces various machines, including KLS Machines, KEB Machines, KBB Machines, for industrial packaging applications.
In addition, the firm is engaged in the development and production of machinery for the production of hollow plastic parts for the automotive industry.
The deal signed in 2013 helped Kautex to further enhance its customer service and packaging business by investing in its workforce and advanced machinery solutions.
With 530 employees in Germany and over 170 across the world, Kautex operates from Bonn and manages customer service center in Berlin and regional offices in the US, Russia, China, Italy, India and Mexico.
Kautex CEO Olaf Weiland said: “We are very pleased with the partner we have found in Plastech and the entrepreneurs behind the company.
“We particularly like the company’s focus on the plastics technology sector, on profitable growth achieved with a customer-centric approach, innovation and digitalization, and on taking a long-term approach to business.”
Plastech, which is an independent industrial holding firm, invests in small to medium-sized companies in the plastics sector.