3i exits Mold-Masters to Milacron

The proceeds of CAD 347m (approximately £219m) to 3i from this transaction represent a 90% uplift over the opening value of £115m on 31 March 2012 (£158m on 31 December 2012), and a 2.1x money multiple on the CAD 166m that 3i invested in October 2007.

In sterling terms, the money multiple is approximately 2.6x. Excluding amounts in escrow, the proceeds are CAD 341m (approximately £216m).

3i developed a detailed exit plan for its investment in Mold-Masters last summer. The GP initiated a competitive auction process including both private equity and strategic buyers.

The transaction is expected to close by April 2013, subject to regulatory approvals.

Between 2009 and 2012, the company substantially grew its market share and increased its turnover from CAD 168m to CAD 271m, representing a CAGR of 17%, according to 3i.

Mold-Masters accelerated its growth in Asia, Europe and South America, and made a number of add-on acquisitions during the five-year holding period. The transaction is part of a restructuring of 3i.

Mold-Masters is headquartered in Georgetown, Canada, and operates melt delivery and control systems. The company designs and manufactures advanced hot runner systems, temperature controllers and auxiliary equipment for the plastic industry.

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