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.