CCMP Capital Advisors has acquired Milacron. Financial terms weren’t announced. Cincinnati-based Milacron is a plastics processing and industrial fluids company. BofA Merrill Lynch, RBC Capital Markets, Barclays and Keybanc Capital Markets provided debt financing. Goldman Sachs provided legal and financial advice to Milacron.
Milacron LLC announced today its acquisition by affiliates of CCMP Capital Advisors, LLC has been completed.
Headquartered in Cincinnati, OH, Milacron is a global leader in the plastics processing industry and a leading provider of premium fluids to the metalworking industry. With 22 principal facilities and approximately 3,000 employees, Milacron manufactures and supplies a broad and comprehensive portfolio of machinery and turnkey systems through integrated business units including Milacron Plastics Technologies, Ferromatik Milacron, DME, Uniloy, Milacron Americas Aftermarket, and CIMCOOL® Fluid Technology.
Dennis Smith, CEO and the management team will remain as the leadership of Milacron. As part of the investment structure, the management team will continue to retain an ownership interest in the company going forward.
Ira Boots, plastics industry veteran and prior Chairman and Chief Executive Officer of Berry Plastics will join Milacron’s Board of Directors as it Chairman.
BofA Merrill Lynch, RBC Capital Markets, Barclays, and Keybanc Capital Markets have provided committed financing for the transaction subject to customary conditions. Paul Hastings LLP represented Senior Management and the Independent Directors. Weil, Gotshal & Manges served as legal advisor to CCMP, and Sullivan & Cromwell and Goldman Sachs served as legal and financial advisors to Milacron.
Details of the transaction are not being disclosed.
Milacron LLC and its businesses are committed to being the leading suppliers of plastics-processing technologies and industrial fluids around the world. The people of Milacron’s companies know what matters in manufacturing, and every day, put this know-how to work to help customers improve productivity, cut costs, increase energy efficiency, eliminate scrap and reduce cycle times. For more information, visit the Milacron website at www.milacron.com.
ABOUT CCMP CAPITAL
CCMP Capital Advisors, LLC, is a leading private equity firm specializing in upper-middle market buyouts and growth equity investments of $100 million to $500 million in the U.S. and Europe. With offices in New York, Houston, and London, CCMP Capital focuses on four primary industries: Consumer, Industrial, Energy and Healthcare. Selected prior and current investments include: ARAMARK Corporation, Chaparral Energy, Edwards Group, Francesca’s Collections, Generac Power Systems, Infogroup, Jetro Holdings, LHP Hospital Group and Warner Chilcott. CCMP’s prior investments in the plastics industry include: Berry Plastics, Klöckner Pentaplast, Kraton Polymers, and M&H Plastics. For more information, please visit www.ccmpcapital.com