British private equity firm 3i Group has started the sale processes of at least four companies, including Ontario-based hot runner manufacturer Mold Masters Ltd., according to a report in the Financial Times of London.
3i has hired Morgan Stanley to advise on the sale of Mold-Masters, which is said to be worth approximately $700 million, the Times is reporting. “The company is likely to attract interest from U.S. trade buyers,” the report said. 3i bought controlling interest in Georgetown, Ont.-based Mold-Masters in 2007.
3i is also selling U.K. software maker Civica, which it took private for about £218m in 2008.
London-based 3i has been disposing of assets, cutting staff and closing offices since the recession began, the Times said.