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, announced today that they have signed a definitive agreement to jointly acquire Husky International Ltd. and its subsidiaries from Onex Corp. and its affiliated funds.
Headquartered in Bolton, Ont., Husky is a leading global supplier of injection moulding equipment and services to the plastics industry.
Berkshire Partners and OMERS Private Equity expect to close the transaction by the end of Q3 2011. Husky’s management team is expected to be a significant investor in the business through continued equity ownership.
Financing will be 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. acted as financial advisor; and Weil, Gotshal & Manges LLP and McCarthy Tétrault LLP acted as legal counsel for the buyers.