Cincinnati, Ohio-based Milacron LLC, a portfolio company of U.S. private equity firm CCMP Capital Advisors, has completed is purchase of Mold-Masters Ltd. from British private equity firm 3i Group. Milacron, which supplies plastics-processing technologies and industrial fluids, bought 100% of the shares of the Georgetown, Ontario-based Mold-Master for an enterprise value of C$975 million. 3i invested C$166 million in the manufacturing company in 2007.
PRESS RELEASE
Acquisition Complete for Plastics Industry Leaders Milacron and Mold-Masters
Strengthening position as a complete plastics industry partner
Cincinnati, Ohio and Georgetown, Ontario — March 28, 2013 — Milacron LLC, a global plastics industry leader and provider of premium metalworking fluids, and Mold-Masters, the industry’s leading manufacturer of premier hot runner systems, today announced the completion of Mold-Masters’ acquisition by Milacron LLC. The transaction forms a leading plastics processing solutions provider, committed to bringing the most advanced technologies, products and services to customers across the globe.
The combined entity now consists of five world-class businesses:
•Milacron Plastics Machinery (Injection, Extrusion and Blow-Molding)
•Mold-Masters (Hot Runners)
•DME Company (Mold Technologies)
•Aftermarket (Parts and Service)
•CIMCOOL® Fluid Technology (Metalworking Fluids and Services)
Each business will continue to focus on the unique, value-added solutions they bring to their respective customers while leveraging the tremendous synergies that exist among all the businesses.
“Today marks a very important and exciting transformation for our companies,” said Tom Goeke, CEO of Milacron LLC. “We now have the widest range of exceptional plastics processing equipment, technologies and services in the world, supported by a team of experts with the engineering, product development and application-specific expertise that our customers need to succeed.”
Under the terms of the transaction, Milacron LLC, backed by affiliates of private equity firm CCMP Capital Advisors, LLC, acquired 100% of the shares of Mold-Masters for an enterprise value of $975 million CAD ($950 million US).
Goeke will lead the combined entity with the support of an outstanding management group and a talented, global team of employees. Leadership of Milacron LLC’s individual businesses, including Mold-Masters, will remain the same.
For further details on the new Milacron LLC, please visit www.milacron.com.
ABOUT MILACRON
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 knowhow to work to help customers improve productivity, cut costs, increase energy efficiency, eliminate scrap and reduce cycle times. For further information, visit www.milacron.com.
Press Contact:
Mary Scheibel, Trefoil Group, (414)732-3380 or mscheibel@trefoilgroup.com
Michael Ellis, Mold-Masters, +(905)877-0185 X354 or mellis@moldmasters.com
Photo courtesy of Shutterstock.
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