Milacron sale now complete; company appoints new chairman

The acquisition of processing equipment maker Milacron LLC by affiliates of CCMP Capital Advisors, LLC is now complete, and industry veteran Ira Boots has been named as Milacron’s new chairman.

Cincinnati, Ohio-based Milacron manufactures and supplies machinery and turnkey systems through its two key business areas – plastics-processing technologies and metalworking fluids. The company’s integrated business units include Milacron Plastics Machinery, Ferromatik Milacron, DME, Uniloy, Milacron Americas Aftermarket, and CIMCOOL Fluid Technology. Milacron generated about US $780 million of sales in 2011.

Both Avenue Capital and CCMP Capital are headquartered in New York City.

Boots is the former chairman and CEO of packaging giant Berry Plastics Corp. Milacron’s management team will remain in place, and it will remain headquartered in Cincinnati.