Platinum Equity announced Monday the acquisition of Husky Injection Molding Systems for $3.9 billion from Berkshire Partners and OMERS Private Equity.
The deal is expected to close sometime in the second quarter of 2018, pending regulatory approval. Husky Chief Executive John Galt will stay on to run the business, Platinum Equity said.
“Husky is an extraordinary company with a well-deserved reputation for developing the industry’s most innovative technology,” said Louis Samson, a partner at Platinum Equity, in a statement.
Husky supplies injection molding equipment used by the plastics industry. The company’s equipment is largely used to manufacture food and beverage containers, medical devices and consumer electronic parts. The Bolton, Canada-based company services a global customer base, with 75 percent of sales outside North America, according to the companies.
Platinum Equity’s Husky acquisition adds to its $13 billion portfolio, which includes more than 30 companies.
The nearly $4 billion deal is financed by Bank of America Merrill Lynch and Deutsche Bank. Latham & Watkins, Stikeman Elliott and Baker McKenzie served as legal counsel to Platinum Equity.