Germany-based investment company Capiton AG has purchased Steadfast Capital GmbH's stake in blow molding machinery company Kautex Maschinenbau GmbH for an undisclosed amount.
In April 2007, Berlin-based Steadfast Capital acquired its stake in Kautex from turnaround fund Adcuram AG. “During the last six years Kautex successfully expanded its position as global market leader for high-end extrusion blow molding machines,” a Steadfast Capital press release stated. “With a strong presence in fast growing economies, especially in Asia, the development of new application areas and new types of machinery, Kautex is not only able to demonstrate a strong financial performance but is also developing new growth markets.”
Headquartered in Bonn, Kautex is a global manufacturer of extrusion blow molding machines used for the production of industrial and packaging articles. A key application of Kautex machines is the production of plastic fuel tanks for passenger cars, according to Steadfast. The business was founded in 1935.