Report: 3i seeks buyer for Mold-Masters

By Michael Lauzon
Correspondent

Published: January 11, 2013 6:00 am ET

Related to this story

Topics Mergers & Acquisitions, Molds/Tooling

GEORGETOWN, ONTARIO (Jan. 11, 2:30 p.m. ET) — The London-based investment firm holding a controlling interest in hot-runner manufacturer Mold-Masters Ltd. will not confirm a report that 3i Group plc plans to sell the Georgetown, Ontario, firm.

“We don’t confirm speculation on potential transactions,” said 3i investor relations director Silvia Santoro in a telephone interview.

“We only publish press releases on actual deals,” Santoro said from London.

The Financial Times of London reported Jan. 10 that 3i has started the process of selling four companies, including Mold-Masters. The report said 3i wants to divest assets, cut staff and close offices, following Europe’s financial crisis.

The Financial Times said 3i has hired Morgan Stanley to advise on the sale of Mold-Masters. The newspaper cited undisclosed sources who pegged the possible sale price at C$700 million (US$711.2 million). U.S. buyers could be attracted to the investment opportunity, the newspaper’s sources speculated.

3i bought its stake in Mold-Masters in 2007. Since then the hot-runner supplier has expanded aggressively, most recently in China, where in late 2011 it opened an expansion of its Kunshan hot-runner plant. At the time, Mold-Masters President and CEO Bill Barker said Asia is the company’s fastest-growing market.

More recently, Mold-Masters reported strong growth during an interview at the Fakuma trade show in Friedrichshafen, Germany, in October. Patrick Bennett, president of the company’s European operations, said pent-up demand after the recession let to high growth in 2010 and 2011. Results in 2012 were not as exciting but still healthy, he told Plastics News.

Bennett said automotive, packaging and consumer products were strong growth areas.

At Fakuma, Mold-Masters unveiled new technologies for injection molders using hot runners, including a linear side-gating system, sequential valve-gate controllers and a dual-zone addition to its line of temperature controllers.

Mold-Masters officials were unavailable on Jan. 11 to comment on the Financial Times report of a possible sale.

As reported by Plastics News early last year, 3i acquired a majority interest in cosmetics parts major Geka GmbH of Bechhofen, Germany. Geka injection molds mascara brushes and packaging. At that time, its customer list included Procter & Gamble Co. and Avon Products Inc.

The Financial Times reported that 3i recently sold its remaining stake in Norma, a Germany-based producer of engineered joining products that had been for sale since April 2011. Also on the sale block is Civica, a U.K.-based software maker, and Scandlines, a ferry operator in Denmark and Germany, according to report.

3i is reportedly England’s oldest private equity investor, dating back to 1945 when it was established to finance companies hurt by World War II.


Comments

Report: 3i seeks buyer for Mold-Masters

By Michael Lauzon
Correspondent

Published: January 11, 2013 6:00 am ET

Post Your Comments


Back to story


More stories

Image

Lund adds to aftermarket auto products portfolio with buy of Bushwacker

January 29, 2015 2:49 pm ET

Lund International Inc. has expanded its portfolio of plastic aftermarket vehicle accessories by acquiring Bushwacker Inc.    More

Image

Chemtrusion, Mytex Indiana compounding plant set for expansion

January 29, 2015 1:35 pm ET

Japanese and American partners in a compounding plant in Indiana plan to expand the facility.    More

M&A deals in packaging hit record

January 28, 2015 1:49 pm ET

It's good to be in packaging these days. More precisely, it's good to be in packaging and decide to sell or merge.    More

Image

Sika opens negotiations to acquire Axson Technologies

January 28, 2015 12:17 pm ET

Specialty chemicals maker Sika AG has entered into exclusive negotiations with Axson SAS management and shareholders to acquire its epoxy and...    More

Image

Piovan buys majority stake in Italy's Penta

January 28, 2015 12:04 pm ET

Italian auxiliary equipment company Piovan SpA has acquired a majority stake in the Italian materials handling company Penta srl, based in Poggio Rena...    More

Market Reports

Plastics in Automotive: Innovation & Emerging Trends

This special report newly released by PN and sponsored by The Conair Group examines current trends in the use of plastics in automotive, materials innovations and the changing landscape. It includes a review of legislative/regulatory activity impacting vehicle development and lightweighting, market opportunities & challenges for mold and toolmakers, innovative design strategies being implemented by major OEMs and suppliers, as well as a review of key indicators in Canada, Mexico, Brazil and China.

Learn more

Plastics Recycling Trends in North America

This report is a review and analysis of the North American Plastics Recycling Industry, including key trends and statistics based on 2013 performance. We examine market environment factors, regulatory issues, industry challenges, key drivers and emerging trends in post-consumer and post-industrial recycling.

Learn more

Injection Molding Market Analysis & Processor Rankings

Plastics News BUNDLED package contains our in-depth Market Analysis of the Injection Molding segment. You will gain keen insight on current trends and our economic outlook.

As a BONUS this includes PN's updated 2014 database of North American Injection Molders RANKED by sales volume. Sort, merge, mail & prospect by end market, materials processed, region, # of plants and more.

Learn more

Upcoming Plastics News Events

February 4, 2015 - February 6, 2015Plastics News Executive Forum 2015

June 2, 2015 - June 3, 2015Plastics Financial Summit - Chicago 2015

September 16, 2015 - September 18, 2015Plastics Caps & Closures - September 2015

More Events