New York-based leveraged buyout specialist Kohlberg Kravis Roberts (KKR; www.kkr.com) has sold 100% of Mannesmann Plastics Machinery (MPM, Munich / Germany; www.mpm-group.com) to another private equity giant, Madison Capital Partners (Chicago, Illinois / USA; www.madisoncapitalpartners.net) and the company´s management. Papers were signed on 26 May, and the deal – terms of which were not disclosed – is set to close within 45 days.

This is KKR´s second attempt to exit the machinery manufacturer, which it acquired in 2002 from Siemens – see Plasteurope.com Web of 08.08.2002. An auction held a year ago failed, when the US group could not realise its reported EUR 700m asking price.

Madison has invested heavily in the international plastics industry in the past few years. Its portfolio currently includes Epco (Fremont, Ohio / USA; www.epcollc.com), a leading service company for plastics machinery manufacture, corrugated pipe producer Holm Industries (Scottsburg, Indiana / USA; www.holmindustries.com) and extrusion specialist Industrie Ilpea (Malgesso / Italy; www.ilpea.com). Last year, it sold hot runner systems manufacturer Synventive Molding Solutions (s´-Gravendeel / The Netherlands; www.synventive.com) to private equity investor Advent International (Boston, Massachusetts / USA; www.adventinternational.com) – see Plasteurope.com Web of 08.09.2005.