Onex In Talks to Sell Husky Injection Molding Systems

Canadian private equity firm Onex Corp. is in talks with other buyout shops to sell portfolio company Husky Injection Molding Systems for as much as $2 billion, Reuters reported. Apollo Global Management and the Carlyle Group are among the firms expressing interest in Husky, Reuters said.

(Reuters) – Canadian private-equity firm Onex Corp (OCX.TO) is talking to rival buyout firms to sell Husky Injection Molding Systems, in a deal that may fetch about $2 billion, Bloomberg said, citing people with direct knowledge of the matter.

The company, whose diversified investments range from movie theaters to healthcare to electronics, has hired Goldman Sachs Group Inc and JPMorgan Chase & Co to handle the auction, the news agency reported.

The Husky auction is mainly drawing interest from buyout firms, including Apollo Global Management LLC and Carlyle Group [CYL.UL], and some have already met with the company’s management to learn about the business, Bloomberg said.

Onex Corp, Apollo and Carlyle could not be immediately reached for comments by Reuters outside regular U.S. business hours. (Reporting by Abhinav Sharma in Bangalore; Editing by Mike Nesbit)