The deal involves Equistone, which acquired Karl Eugen Fischer in August 2013, selling its stake to DBAG Fund VII, managed by Deutsche Beteiligungs AG.
Management will retain a shareholding in the company, added Equistone, thought it said financial terms of the deal were not being disclosed.
Founded in 1940 in Burgkunstadt, Germany, Karl Eugen Fischer manufactures cord-cutting machines for the global tire industry.
The company began developing cutting and pressing machines in 1949 and has produced tire-cord-cutting machines since the mid-1970s.
“With a market share of 70%, the company is the world-leader in this segment and supplies the majority of the market’s leading tire manufacturers,” said Equistone.