Husky Injection Molding Systems Ltd.'s sale to Berkshire Partners LLC and Omers Private Equity Inc. has closed. The deal had been announced in May. Given the interest in the deal, I decided to post the full news release announcing the news in the blog today. Note that for the financial markets, the company is calling itself Husky International Ltd. Here's the release: Boston, Massachusetts and Toronto, Ontario, June 30, 2011 - Berkshire Partners LLC, the Boston based private equity firm, and OMERS Private Equity Inc., the private equity arm of the OMERS Worldwide group of companies, today announced the successful closing of their previously announced acquisition of Husky International Ltd. Based in Bolton, Ontario, Husky is a global supplier of highly engineered systems solutions and related aftermarket services and components for the plastics injection molding equipment industry and the leading supplier to the PET preform packaging industry. Husky's global market position, technology leadership, commitment to delivering outstanding customer value, and integrated systems approach will enable the company to pursue multiple growth opportunities. Demand for Husky's products and services is primarily driven by growth in the beverage packaging segment, particularly in emerging markets. Husky is a truly global enterprise with approximately 75% of its sales generated outside North America. In addition to complete injection molding solutions, Husky provides aftermarket services and parts to a large and growing installed base of systems globally. It invests significantly in new product development to serve both its core beverage packaging and adjacent market customers. Husky's highly experienced and talented management team will continue to lead the company. Berkshire and OMERS announced on May 3, 2011 that they had signed a definitive agreement to acquire Husky from Onex Corporation. Members of Husky's management team remain significant investors in the business through continued equity ownership. Financing was provided by certain affiliates of Goldman, Sachs & Co., including its principal mezzanine fund, Morgan Stanley Senior Funding, RBC Capital Markets and TD Securities Inc. TD Securities Inc. and BMO Capital Markets acted as financial advisors, and Weil, Gotshal & Manges LLP and McCarthy TÃ&Copy;trault LLP acted as legal counsel for the buyers. About Husky International Ltd. Husky(www.husky.ca) is a leading global supplier of injection molding equipment and services to the plastics industry. The company has more than 40 service and sales offices, supporting customers in over 100 countries. Husky's manufacturing facilities are located in Canada, the United States, Luxembourg and China. About Berkshire Partners LLC Berkshire Partners, the Boston-based private equity firm, has invested in over 100 leading mid-sized companies since the mid-1980s through seven investment funds with aggregate capital of $6.5 billion. Berkshire has developed specific industry experience in several areas including retailing, consumer products, manufacturing, transportation, energy, business services and communications. The firm seeks to invest $50 million to $500 million of equity capital in each portfolio company. For additional information, visit www.berkshirepartners.com. About OMERS Private Equity Inc. Operating under the OMERS Worldwide brand, OMERS Private Equity today manages the private equity activities of OMERS and has over $5.5 billion of investments under management. The group's investment strategy includes the active ownership of businesses in North America and Europe. OMERS Private Equity is headquartered in Toronto, Canada, with offices in New York and London. For further information visit: www.omerspe.com. About OMERS OMERS is one of Canada's largest pension funds with over $53 billion in net assets. It provides first-class pension administration and innovative products and services to over 400,000 members. Approximately one in every 20 employees working in the province of Ontario is an OMERS member. Through the OMERS Worldwide brand, our team of investment professionals uses a direct drive, active management investment strategy to invest in public and private market assets, including publicly-traded equities, fixed-income, infrastructure, private equity and real estate. For more information, please visit www.omers.com, or www.omersworldwide.com.
Husky sale finalized
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