Platinum Equity has completed previously announced acquisition of Husky Injection Molding Systems from Berkshire Partners and OMERS Private Equity for US $3.85 billion.
John Galt, who has served as Husky CEO since 2005, will continue to lead the company. Galt and other members of Husky’s management team remain important investors in the company.
Debt financing was arranged by certain affiliates of Bank of America Merrill Lynch, Deutsche Bank Securities, Goldman, Sachs & Co., Barclays, BMO Capital Markets, TD Securities, and National Bank of Canada Financials Markets.
Latham & Watkins, Stikeman Elliott and Baker McKenzie served as legal counsel to Platinum Equity on the acquisition, and Husky was represented by Weil, Gotshal & Manges LLP and Torys LLP.
Berkshire Partners and OMERS Private Equity acquired Husky IMS International from Onex in June 2011 for US $2.1 billion. In December 2007, Onex acquired Husky with an equity investment of approximately US $622 million.
Bolton, Ontario based 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. The company has more than 40 service and sales offices, supporting customers in over 100 countries. Husky’s manufacturing facilities are located in Canada, the United States, Luxembourg, Austria, Switzerland, China, India and the Czech Republic.
photo credit: Husky