Bookmark 05-03-2011

Private Equity Firms to Acquire Husky

Berkshire Partners LLC, the Boston based private equity firm, and Omers Private Equity Inc., the private equity arm of the Omers Worldwide group of companies, have signed a definitive agreement to jointly acquire Husky International Ltd. and its subsidiaries from Onex Corporation and its affiliated funds.

Headquartered in Bolton, Ontario, Husky is a leading global supplier of injection molding equipment and services to the plastics industry with manufacturing facilities in Canada, the United States, Luxembourg and China and more than 40 service and sales offices worldwide. The company, led by President and Chief Executive Officer John Galt, designs and manufactures a broad range of injection molding machines, hot runners, molds and integrated systems.

“I look forward to partnering with Berkshire Partners and Omers Private Equity in continuing to build a great company that delivers outstanding customer value,” said John Galt, who will continue to lead Husky as President and CEO. Michael Ascione, Managing Director of Berkshire Partners, said "We believe Husky’s global presence and strong customer value proposition enables many strategic growth initiatives and provides significant long-term potential."

Berkshire Partners LLC and OMERS Private Equity Inc. expect to close the transaction by the end of the third quarter of 2011. Financing will be provided by certain affiliates of Goldman, Sachs & Co.