Milacron is acquiring Canadian hot-runner specialist Mold-Masters Ltd. from London-based investment firm 3i Group.
The deal combines major brands in machinery (Milacron), hot runners (Mold-Masters) and mould components including bases and plates (DME).
Cincinnati-based Milacron said it will acquire 100% of Mold-Masters' shares for an enterprise value of CAD 975m (€725.1m).
The combination of DME and Mold-Masters will likely make the company one of the largest global suppliers of hot-runner systems. But Milacron CEO Tom Goeke said they will be run as separate businesses.
"We don't intend to integrate DME and Mold-Masters," Goeke said in a telephone interview. The companies could get together early in the mould design stage and incorporate components, he noted.
In the past, DME and Mold-Masters have not worked together much, according to Dave Lawrence, Milacron's president of worldwide plastics machinery for injection, extrusion and mould technologies.
A longer version of this story can be found on Plastics News.