Milacron Holdings Corp. (Cincinnati) announced that it has entered into a definitive agreement with Osgood Capital Group LLC and Cyprium Investment Partners LLC to sell its Uniloy blowmolding business.
Tom Goeke, Milacron President and CEO, said, “the sale of the Uniloy blowmolding business is being transacted in the best interests of Milacron, its stockholders and its customers. Uniloy has operated as a Milacron product brand since 1998, and we are confident it will continue to thrive under its new ownership in the years ahead. This divestiture is consistent with our decision to concentrate on our core industry-leading technologies including Milacron injection molding machines, Milacron extrusion equipment, Mold-Masters hot runner and control systems, DME mold components and our CimCool fluid technologies.”
The new Uniloy organization will be led by Brian Marston, who will serve as President and CEO. Marston is currently President of blowmolding and extrusion at Milacron. He has held leadership roles within the plastics and blowmolding industry for 35 years. Osgood Capital’s President, Joseph S. Levy, who has more than 25 years of experience in the plastics and packaging industry, commented, “We are excited to have this opportunity to work with the outstanding Uniloy management team led by Brian. We expect to deliver world class service and solutions for all our customers’ blowmolding needs as well as strong growth in global Uniloy brands for years to come.”
“The new Uniloy organization will continue to provide the same high-performance machinery, technical expertise and aftermarket support that our customers have experienced since the 1960s,” added Marston. “The Uniloy brand will continue to be recognized as a global leader in the blowmolding industry. We will be working hand-in-hand with Milacron to make this a seamless transition for our customers. All existing orders will continue to be manufactured to the industry’s highest standards.”
The transaction is subject to customary closing conditions and is expected to close within the next 90 days.
Image: Sitthiphong/Adobe Stock