Canadian Plastics
News

Mold-Masters for sale: report

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.


Print this page

January 13, 2013 by Canadian Plastics

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.