Platinum Equity completes acquisition of Husky Injection Molding Systems International Ltd.
News release March 29, 2018
Bolton, Canada – Platinum Equity today announced the successful closing of their previously announced acquisition of Husky Injection Molding Systems (IMS) International Ltd. Based in Bolton, Ontario, Husky is a global supplier of highly engineered injection molding equipment and services for the plastic injection molding equipment industry, and a leading provider of PET systems, hot runners, aftermarket tooling, medical molds, and specialty closure molds.
Husky is a leading industrial technology provider to the plastics processing community that has an unprecedented level of innovation effectiveness. Husky’s state-of-the-art manufacturing equipment is delivered to a wide range of customers in various end-markets with approximately 70 percent of its sales generated outside North America. In addition to complete injection molding solutions, Husky provides aftermarket services and parts to a large and growing installed base of systems globally. It invests significantly in new product development to serve both its core beverage packaging and adjacent market customers. Husky’s highly experienced and talented management team will continue to lead the company.
Platinum Equity announced on December 18, 2017 that they had signed a definitive agreement to acquire Husky from Berkshire Partners and OMERS Private Equity. Members of Husky’s management team remain important investors in the business through continued equity ownership.
Financing was arranged by certain affiliates of BofA Merrill Lynch, Deutsche Bank Securities, Goldman, Sachs & Co., BMO Capital Markets, Barclays, TD Securities, and National Bank of Canada Financials Markets. Latham and Watkins LLP acted as legal counsel for the buyers, and Husky was represented by Weil, Gotshal & Manges LLP and Torys LLP.
About Husky IMS International Ltd.
Husky is a leading global supplier of injection molding equipment and services to the plastics industry. The company’s products are used to manufacture a wide range of plastic products, including beverage and food containers, medical devices and consumer electronic parts. Husky provides comprehensive and integrated system solutions that are comprised of injection molding machines, molds, hot runners, controllers and auxiliaries. Husky has more than 30 locations globally, supporting customers in over 140 countries. Husky's manufacturing facilities are located in Canada, the United States, Austria, China, Czech Republic, India, Luxembourg and Switzerland.
About Platinum Equity
Founded in 1995 by Tom Gores, Platinum Equity is a global investment firm with $13 billion of assets under management and a portfolio of more than 30 operating companies that serve customers around the world. The firm is currently investing from Platinum Equity Capital Partners IV, a $6.5 billion global buyout fund. Platinum Equity specializes in mergers, acquisitions and operations – a trademarked strategy it calls M&A&O® – acquiring and operating companies in a broad range of business markets, including manufacturing, distribution, transportation and logistics, equipment rental, metals services, media and entertainment, technology, telecommunications and other industries. Over the past 22 years Platinum Equity has completed more than 200 acquisitions.
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Husky Injection Molding Systems