Milacron to sell blow molding unit as it focuses on core businesses
Milacron Holdings Corp., a leading industrial technology company serving the plastics processing industry, is selling its Uniloy Blow Molding business. The company said it has entered into a definitive agreement with Osgood Capital Group, LLC and Cyprium Investment Partners, LLC.
“This divestiture is consistent with our decision to concentrate on our core industry-leading technologies including Milacron injection molding machines, Milacron extrusion equipment, Mold-Masters hot runner and control systems, DME mold components, and our CIMCOOL fluid technologies,” said Tom Goeke, Milacron president and CEO.
“Uniloy has operated as a Milacron product brand since 1998, and we are confident it will continue to thrive under its new ownership in the years ahead,” he added.
The new Uniloy organization will be led by Brian Marston who will serve as president and CEO. Marston is currently president of Blow Molding and Extrusion with Milacron. He has held leadership roles within the plastics and blow molding industry for 35 years.
“We will be working hand in hand with Milacron to make this a seamless transition for our customers. All existing orders will continue to be manufactured to the industry’s highest standards,” Marston said.
Osgood Capital’s President, Joseph S. Levy, who has more than 25 years’ experience in the plastics and packaging industry said, “We are excited to have this opportunity to work with the outstanding Uniloy management team led by Brian. We expect to deliver world-class service and solutions for all our customers’ blow molding needs as well as strong growth in Global Uniloy brands for years to come.”
The transaction is subject to customary closing conditions and is expected to close within the next 90 days.
Milacron is a global leader in the manufacture, distribution, and service of highly engineered and customized systems within the plastic technology and processing industry. Milacron is the only global company with a full-line product portfolio that includes hot runner systems, injection molding, mold components and extrusion equipment plus a wide market range of advanced fluid technologies.
The Uniloy brand is a global leader in blow molding technologies and the only blow molding machine manufacturer to offer four unique blow molding technologies as well as blow molds and associated tooling. Uniloy’s core technologies include UR reciprocating series blow molding machines, industrial blow molding machines, UMA accumulator head and UMC continuous extrusion, UIB injection blow molding machines, UMS shuttle machines, as well as molds.
Osgood Capital is a firm focused on acquiring unique companies and then working with them to prepare and execute growth through innovation, strategy and investment. The principal has experience in closing more than 30 different acquisitions in diverse industries including plastics, packaging, aerospace, automotive, energy services, electronics, technology, software and consumer products.
Cyprium Partners is a private equity and mezzanine firm providing common equity, preferred stock and subordinated debt to middle-market businesses. With offices in Cleveland, New York and Chicago, the partners of Cyprium have invested more than USD1.5 billion in more than 80 companies since 1998.