Canadian Plastics

Onex seeking sale of Husky?

Canadian buyout firm Onex Corporation is looking at either selling Husky Injection Molding Systems to another private-equity firm, according to U.S. news stories.

December 21, 2010   Canadian Plastics

Canadian buyout firm Onex Corporation is looking at either selling Husky Injection Molding Systems to another private-equity firm, according to U.S. news stories.

News agencies Bloomberg and the Wall Street Journal have both reported that Toronto-based Onex is in talks to sell Husky, headquartered in Bolton, Ont., saying the deal could fetch as much at US$2 billion.

Onex acquired Husky in 2007 for about $960 million.

Husky had earnings before interest, taxes, depreciation and amortization of $197 million in the 12 months ended Sept. 30, according to a statement on Onex’s website.

In a news release, Onex said it hasn’t made a decision to sell Husky and hasn’t received any offers for the acquisition of the company.


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