Milacron selling Uniloy business to private equity firms
Canadian PlasticsPlastics Processes
The business is being sold to U.S.-based investment firms Osgood Capital Group LLC and Cyprium Investment Partners LLC for an undisclosed amount.
Milacron Holdings Corp. is selling its Uniloy blow molding business to U.S.-based investment firms Osgood Capital Group LLC and Cyprium Investment Partners LLC.
The terms of the deal have not been disclosed.
The Cincinnati, Ohio-based plastics processing machinery maker announced the news on May 14, just two weeks after it disclosed in its first quarter financial report that it was exiting the Uniloy business and putting it up for sale.
Milacron bought Uniloy, which is headquartered in Tecumseh, Mich., in 1998 from Johnson Controls Inc. Milacron plans to keep the structural foam business that it bought from Johnson Controls at the same time.
Brian Marston, currently the president of Milacron’s blow molding and extrusion division, will lead the Uniloy organization as president and CEO. He has held leadership positions within the plastics and blow molding industry for 35 years, Milacron said in the statement.
“Uniloy has operated as a Milacron product brand since 1998, and we are confident it will continue to thrive under its new ownership in the years ahead,” Milacron CEO Tom Goeke said. “[The sale] is consistent with our decision to concentrate on our core…technologies, including Milacron injection molding machines, Milacron extrusion equipment, Mold-Masters hot runner and control systems, DME mold components, and our CIMCOOL fluid technologies.”
Uniloy’s line of blow molding machines includes reciprocating screw blow molders, injection blow molding presses, shuttle machines and accumulator head blow molding machines. The business also is a major manufacturer of blow mold.
The Uniloy transaction is expected to close within 90 days, Milacron said.
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