M&A US plastics industry conglomerate Milacron to acquire Canada’s Mold-Masters for nearly C$1bln
The transaction is expected to be completed by mid-year.
Cincinnati, Ohio-based Milacron LLC said it will pay C$975 million in enterprise value for 100% of the shares of Canadian hot runner supplier Mold-Masters, Georgetown, Ontario.
Milacron said in a statement that the takeover will create a rapidly growing company with “world-class capabilities” in five businesses: Milacron for plastics processing machinery, Mold-Masters for hot runners, DME for mould and standard parts, Aftermarket for parts and service and Cimcool Fluid Technology for services and metalworking fluids.
“Through their complementary product lines, Milacron and Mold-Masters will be able to offer a broader portfolio of exceptional products and services, providing solutions for customers’ complex plastics needs,” the statement said. The combined entity is expected to have better chances to expand globally due to enhanced financial and operational strength, reduced cyclicality and a diverse international footprint with a strong market position in hot runners in Asia.
Milacron CEO Tom Goeke said, “The acquisition creates a global leader in the plastics industry with the scale, technological leadership, international presence and competitive positioning to deliver a wide range of products and services to more customers in more markets around the world.”
Bill Barker, Mold-Masters’ president and CEO, will continue to lead that business, according to the statement. Barker said, “We are also very excited to join Milacron and become part of an industry-leading company.”