Blue Ash, Ohio — Selling stockholders of Milacron Holdings Corp. are planning a secondary offering of stock on the New York Stock Exchange, and Milacron gave some details in a prospectus filed two days before Christmas.
Milacron did not find any new shareholders under its Christmas tree, since the Dec. 23 form S-1 filing gives no details about pricing or the date of the planned stock sale. All of the net proceeds from the sale will to go the stockholders who sell, and the company will not receive any proceeds from the sale of shares of common stock, according to the prospectus.
The stock sale could raise up to $100 million, listed in the prospectus as the maximum aggregate offering price.
Milacron went public on the NYSE in June 2015. The company's largest shareholder, private equity firm CCMP Capital Advisors LLC, owns 60.6 percent of the shares.
In 2016, Milacron's stock price ranged from a low of $11.56 to a high of $19.32. The stock closed at $18.72 on Dec. 23, the day the secondary offering was announced.
Milacron, based in the Cincinnati suburb of Blue Ash, makes injection molding machines, blow molders and extruders, as well as mold components, hot runners and coinjection molding systems. The company also makes metal-cutting fluids. Milacron generated 2015 sales of $1.18 billion, losing $38.8 million. Through the first nine months of 2016, the company reported sales of $877.6, and a profit of $29.4 million.
The 74-page prospectus gives some details about Milacron's plastics-related businesses. The company made $29.4 million in capital expenditures for all of 2015 in the Advanced Plastics Processing Technologies segment — more than half of that was used to expand capacity and move a production facility from Italy to the Czech Republic. Through the first nine months of 2016, the company made $16.8 in total capital expenditures for the machinery segment.
North America accounts for about 68 percent of total sales for the Advanced Plastics Processing Technologies segment, which includes machinery and aftermarket business.
“Demand is also impacted by customers bringing manufacturing operations back to North America,” the company said in the prospectus, citing reshoring.
Milacron reported $19.6 million in capital expenditures for the Melt Delivery and Control Systems segment in 2015, and $13.4 million through the first nine months of 2016. The nine months investment comes in part from a capacity expansion in China for hot runners and related products, and the continued expansion in the Czech Republic to consolidate manufacturing capacity.
