Business & people
Husky was sold to Platinum Equity
Confirmed: Husky to Change Owner
Yesterday, Platinum Equity announced it has signed a definitive agreement to acquire Husky IMS International Ltd., Bolton, Ontario/Canada. The transaction is expected to close during the second quarter of 2018. Members of Husky’s management team will remain significant investors in the business through continued equity ownership.
Platinum Equity will be purchasing the company from Boston based private equity firm Berkshire Partners LLC, and Omers Private Equity Inc., the private equity arm of Omers, the defined benefit pension plan for Ontario’s municipal employees. Berkshire Partners LLC and Omers acquired Husky in June of 2011. “Husky is an extraordinary company with a well-deserved reputation for developing the industry’s most innovative technology,” said Louis Samson, the Platinum Equity Partner who led the transaction. “John Galt and his team have built one of Canada’s most successful enterprises and a truly world class industrial company. We are excited to partner with such an exceptional leadership team and we aim to help them continue raising the bar.”
Husky is a 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. Husky’s management team will continue to lead the company. “In Platinum, Husky has found a partner that brings a wealth of experience, a highly capable team, and a shared enthusiasm for building great companies. I am confident that by working together we will find new and exciting ways to serve our customers,” said John Galt, Husky’s President and CEO.
Founded in 1995 by Tom Gores, Platinum Equity is a global investment firm with USD 13 billion of assets under management and a portfolio of more than 30 operating companies that serve customers around the world.
