Husky exploring possibility of sale: report
Canadian Plastics
Canadian PlasticsBolton, Ont.-based Husky has hired investment bank Goldman Sachs Group Inc. to explore the possibility of an auction for the company that could be worth as much as $4 billion, the Reuters news agency is reporting.
Plastics processing equipment maker Husky Injection Molding Systems Ltd. has hired investment bank Goldman Sachs Group Inc. to explore the possibility of an auction for the company that could be worth as much as $4 billion, the Reuters news agency is reporting.
Buyout firm Berkshire Partners LLC and the private equity arm of Ontario Municipal Employees Retirement System (OMERS) – which owns Bolton, Ont.-based Husky – have asked Goldman Sachs to run an auction for Husky, Reuters said, citing four unnamed sources for the story.
Husky is expected to have earnings before interest, tax, depreciation and amortization this year of more than $350 million, the Reuters story said.
Husky manufactures injection molding presses, robots, and hot runner systems. The company sells its products in more than 100 countries.
Berkshire Partners and OMERS acquired Husky for $2.1 billion in 2011 from buyout firm Onex Corp.
