| Industry: |
Injection Molding |
| Investment date: |
December 2007 |
| Acquired by: |
Onex Partners I, Onex Partners II |
| Investment: |
$622 million(1) /
$225 million from Onex |
| Status: |
Substantially realized |
| Initial realization: |
June 2011 |
| Value realized: |
$1.8 billion / $637 million by Onex |
| Gross IRR: |
36% |
| Head office: |
Bolton, Ontario |
(1) The investment was split 20% / 80% between Onex Partners I and Onex Partners II.
At the time of acquisition Husky International Ltd. (“Husky”) was one of the world’s largest suppliers of injection molding equipment and services to the global plastics industry. The company designs and manufactures a broad range of injection molding machines, molds and integrated systems that give its customers the ability to manufacture a wide range of plastics products. Husky has a sales and service network consisting of more than 40 offices worldwide, as well as manufacturing facilities in Canada, the United States, Luxembourg and China.
On June 30, 2011, Onex announced that they have completed the sale of Husky International for $2.1 billion. In December 2007, the Onex Group acquired Husky with an equity investment of $622 million and has received net proceeds of $1.8 billion, providing a gain of approximately $1.2 billion. This results in a multiple of invested capital of 2.9 times and a 36% rate of return. Onex’ portion of the net proceeds are approximately $583 million, including carried interest.