Husky Injection Molding Systems Ltd. continues to build its mold-making stable, purchasing Schöttli Group, a Swiss maker of molds for medical parts such as syringes, closures and food packaging, the companies announced Nov. 1.
Both firms have worked together, said Husky President and CEO John Galt. Husky, which makes injection molding machines, robots and hot runners, is based in Bolton, Ontario.
Schöttli, based in Diessenhofen, Switzerland, has plants and service facilities at its headquarters and in San Dimas, Calif, and Suzhou, China.
Husky is buying the mold maker from Swiss industrial investor CGS Management, a private equity firm. Husky is owned by Berkshire Partners LLC and Omers Private Equity Inc.
Terms were not disclosed. The deal is expected to close in early December.
CGS bought a majority stake in Schöttli AG in 2008 from owner Martin Schöttli, and together they made add-on acquisitions in China and the U.S., growing the company into a global player in molds.
Schöttli's medical molds turn out products like syringes, infusion/transfusion products, diagnostic systems and feminine-care items.
"We see Husky as the right organization to take Schöttli forward," said Martin Schöttli, a member of the board at the mold maker, in a prepared statement.
Husky officials say Schöttli is a good fit with Husky's expertise in hot runners, controllers and injection molding presses.
"Through this acquisition, we will be able to work with the many skilled people at Schöttli as one team to deliver more value to customers, particularly in the medical and closures markets," Galt said.
Husky made thin-wall molds for years, but exited in-house production in the mid-1990s to focus on its growing PET mold and hot-runner operations. In 2011, Husky bought Austrian closure-mold specialist KTW Group.
Now picking up Schöttli brings a broader mold focus, but one that is still within Husky's sweet spot of thin-wall, fast-cycling parts.