Based in Bolton, Ontario, Husky is a leading industrial technology provider to the plastics processing industry, providing an unprecedented level of innovation for injection molding applications. Husky delivers its products and services to a wide range of customers in various end-markets across the globe with over 75% of revenues generated outside of North America. The Company has manufacturing facilities in eight countries and more than 40 service and sales offices supporting customers in over 100 countries. In addition to complete injection molding solutions, Husky provides aftermarket services and parts to a large and growing installed base of systems globally.
Since acquiring Husky in 2011, OMERS and Berkshire have worked with the Company to enhance its ability to serve customers, while also supporting investment in acquisitions and new product development to expand the Company’s addressable market. These initiatives coupled with Husky’s ongoing market leadership contributed to a substantial increase in its earnings.
“We thank OMERS and Berkshire for their long-term partnership and support of the Company’s goals over the last six and a half years. They have been great partners for management and excellent stewards of the Company. Their support has helped position Husky for future growth as the global leader and innovator in its segments,” commented John Galt, President & CEO of Husky.
Michael Graham, Head of North America for OMERS Private Equity said, “We are proud to have been involved with Husky, an iconic Canadian company known world-wide for its leading technology in plastics processing. Husky is led by an exceptional management team that John Galt has developed over the years. We are grateful for all their efforts which resulted in significant growth under our ownership.”
"We are fortunate to have partnered with the outstanding management team at Husky," said Mike Ascione, a Managing Director at Berkshire Partners. "Husky is well-positioned for continued growth and success, and we are thankful for the opportunity to have worked with the Company and the team at OMERS."
The transaction is expected to close in the second quarter of 2018. Goldman Sachs, Baird and CIBC Capital Markets acted as financial advisers to the Company; Weil, Gotshal & Manges and Torys acted as legal counsel.