Platinum Equity to acquire Husky Injection Molding Systems
Platinum Equity announced today that it has signed a definitive agreement to acquire Husky Injection Molding Systems from Berkshire Partners and OMERS Private Equity for $3.85 billion. The transaction is subject to regulatory approval and is expected to close in the second quarter of 2018.
John Galt, who has served as Husky CEO since 2005, is staying on to lead the business. He and other members of Husky’s management team will remain substantial investors in the company. “In Platinum Equity, Husky has a partner that brings a wealth of experience, a highly capable team and a shared enthusiasm for building great companies,” said Mr. Galt. “I am confident that working together we will find new and exciting ways to serve our customers.”
Financing will be led by Bank of America Merrill Lynch and Deutsche Bank.
Latham & Watkins, Stikeman Elliott and Baker McKenzie (regulatory) are acting as legal counsel to Platinum Equity on the acquisition of Husky.
