Husky
Husky has been bought by investment firm, Platinum Equity
Supplier of injection moulding machinery and services, Husky, has been acquired by Global Investment firm, Platinum equity.
The deal, for an undisclosed fee, will see members of Husky’s management team remain significant investors in the business through continued equity ownership.
“In Platinum, Husky has found a partner that brings a wealth of experience, a highly capable team, and a shared enthusiasm for building great companies. I am confident that by working together we will find new and exciting ways to serve our customers,” said John Galt, Husky’s President and CEO.
Platinum Equity will be purchasing the company from Boston-based private equity firm, Berkshire Partners LLC, and OMERS Private Equity Inc., the private equity arm of OMERS, the defined benefit pension plan for Ontario’s municipal employees. Berkshire Partners LLC and OMERS acquired Husky in June of 2011.
“Husky is an extraordinary company with a well-deserved reputation for developing the industry’s most innovative technology,” said Louis Samson, the Platinum Equity Partner who led the transaction.
“John Galt and his team have built one of Canada’s most successful enterprises and a truly world class industrial company. We are excited to partner with such an exceptional leadership team and we aim to help them continue raising the bar.”
Demand for Husky’s products and services is primarily driven by growth in the beverage packaging segment, as well as in plastics consumables. Approximately 75 percent of Husky’s sales are generated outside North America.
In addition to complete injection moulding solutions, Husky provides aftermarket services and parts to a large and growing installed base of systems globally. Husky’s management team will continue to lead the company.