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Husky valued at up to USD 4bn: Reuters
Posted on Friday, 11 August 2017 11:12
The private equity owners of Husky Injection Molding System of Canada are hoping to make a return on their six-year investment by way of an auction that could value the Canadian manufacturer at up to USD 4.00 billion, Reuters reported.
Sources told the news provider Goldman Sachs will start fielding offers for the injection moulding machinery maker, which is expected to book earnings before interest, tax, depreciation and amortisation of more than USD 350.00 million this year.
Berkshire Partners and the buyout arm of Ontario Municipal Employees Retirement System (OMERS) acquired Husky in from Onex in 2011 in a USD 2.10 billion deal that included management remaining as significant investors in the business.
The companies named in the report either declined to comment or did not respond to requests for a statement when contacted by Reuters.
Husky makes injection moulding equipment ranging from machines and hot runners to auxiliaries and integrated systems and it also offers preform development, factory planning, customer training and asset management.
The Ontario-based company has production facilities both at home and abroad, in countries such as Luxembourg, Austria, Switzerland, China, India and the Czech Republic.
Husky’s machinery and equipment are used to make bottles and caps for beverages, containers for food, medical components and consumer electronic parts, among other things.
The auction, should it value the manufacturer at up to USD 4.00 billion and is announced this year, could be the largest exit of a Canadian company in 2017 to date, according to Zephyr, the M&A database published by Bureau van Dijk.
Currently, Reliance Comfort accounts for the biggest return on an investment as Alinda Capital Partners revealed in March it is selling the air-conditioning unit manufacturer for USD 2.12 billion to a subsidiary of Cheung Kong Property Holdings.
© Zephus Ltd