Following the transaction, Dennis Smith, CEO, and the management team will remain as the leadership of and will continue to retain an ownership interest in the company.
The investment was supported by debt financing provided by BofA Merrill Lynch, RBC Capital Markets, Barclays and Keybanc Capital Markets.
With 22 principal facilities and approximately 3,000 employees, Milacron is a global leader in the plastics processing industry and a provider of premium fluids to the metalworking industry. It manufactures and supplies a broad and comprehensive portfolio of machinery and turnkey systems through integrated business units including Milacron Plastics Technologies, Ferromatik Milacron, DME, Uniloy, Milacron Americas Aftermarket, and CIMCOOL® Fluid Technology.
Ira Boots, plastics industry veteran and prior Chairman and CEO of Berry Plastics will join the company’s Board of Directors as it Chairman.