Major Canadian private equity firm Onex is in talks to sell Husky Injection Molding Systems, according to a report from Bloomberg.com.
The story, which cites unnamed "people with direct knowledge of the matter," said Toronto-based Onex is in talks with rival buyout firms, and the price could be as high as $2bn (€1.5bn), Onex has hired Goldman Sachs Group and JPMorgan Chase to handle the auction, according to the report.
Onex owns 98% of Ontario-based Husky, which makes injection moulding machines, hot-runner systems and tooling.
Husky was publicly traded for a decade before Onex bought the firm for $1bn in 2007, although Robert and Elizabeth Schad owned or controlled about 44.1% of the shares. Financial analysts have speculated that Onex eventually would cash in on the investment through a sale or an initial public offering.
Source By: Prw News