Milacron and Mold-Masters: Acquisition unites Plastics Industry Leaders
Milacron LLC, Cincinnati, OH/USA, a global plastics industry leader, and Mold-Masters, Georgetown, Ontario/Canada, a global hot-runner manufacturer with a strong presence in North America, Europe and Asia, today announced they are combining to form a leading global solutions provider positioned to serve the full range of customer needs. Milacron is backed by its private equity investor CCMP Capital Advisors.
The transformative transaction will create a rapidly growing company with world-class capabilities across five businesses: Milacron (Plastics Machinery), Mold-Masters (Hot Runners), DME (Mold Base Technologies), Aftermarket (Parts and Service) and 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.
Through their complementary product lines, Milacron and Mold-Masters will be able to offer a broader portfolio of products and services. The combined company will also have greater opportunities for global expansion.
Under the terms of the transaction, Milacron will acquire 100% of the shares of Mold-Masters for an enterprise value of 975 million USD. Tom Goeke, Chief Executive Officer of Milacron, will lead the combined entity. Bill Barker, President and CEO of Mold Masters, will continue to lead that business.
The transaction, subject to customary closing conditions, is expected to close in the first half of 2013.
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