Buyout Firm 3i Said to Hire Morgan Stanley to Sell Mold-MastersDavid Welch
Private-equity firm 3i Group Plc hired Morgan Stanley to sell Canadian plastics-molding equipment maker Mold-Masters Group and Berkshire Partners LLC is interested, said people with knowledge of the matter.
Mold-Masters, the Georgetown, Ontario-based producer of temperature-control systems, could be worth as much as $570 million, said the people, who asked not to be identified because the process is private. Boston-based Berkshire and OMERS Private Equity acquired Husky Injection Molding Systems, another Canadian plastics-equipment maker, for $2.1 billion in 2011.
London-based 3i bought Mold-Masters in August 2007.
Mary Claire Delaney, a spokeswoman for Morgan Stanley, declined to comment. Kathryn van der Kroft, a spokeswoman for 3i, and Michael Ellis, a spokesman for Mold-Masters didn’t return calls seeking comment. Katherine Bush, a spokeswoman for Berkshire, didn’t respond to an e-mail seeking comment.
The Financial Times previously reported that 3i hired Morgan Stanley to find a buyer.