Milacron Said to Tap Banks for IPO of as Much as $350 MillionLeslie Picker
Milacron LLC, which provides products and equipment for the plastics industry, is planning an initial public offering that could raise $300 million to $350 million, people with knowledge of the matter said.
The company, which was acquired by private-equity firm CCMP Capital Advisors three years ago, is working with Bank of America Corp., Barclays Plc and JPMorgan Chase & Co., the people said, asking not to be identified discussing private information.
Milacron, based in Cincinnati, has manufacturing roots dating back 125 years, according to its website. The company sells everything from machinery to molds, and operates under several brand names including Cimcool and Mold Masters. CCMP purchased Milacron from Avenue Capital Group in April 2012 for an undisclosed amount, data compiled by Bloomberg show.
Representatives for Milacron, CCMP, Bank of America, Barclays and JPMorgan declined to comment.
Two of the six biggest IPOs so far this year have come from the industrial industry: Summit Materials, which makes cement and concrete, and Euronav NV, a shipping company. Summit Materials raised $400 million on March 11 and its shares jumped 17 percent in its trading debut Thursday.