Written on 09.05.2011 - Industry
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New owners for Husky

The Private equity companies Berkshire and Omers Private Equity have signed an agreement to jointly acquire Canadian injection moulding machinery producer Husky International Ltd. and its subsidiaries ("Husky") from Onex.

"I look forward to partnering with Berkshire Partners and Omers Private Equity in continuing to build a great company that delivers outstanding customer value," said John Galt, who will continue to lead Husky as President and CEO.

"Husky is a Canadian success story," said Lisa Melchior, Managing Director of Omers Private Equity Inc. "It is a global market leader in an industry that is poised to benefit from the growth in emerging markets. We believe the future opportunities for this company are extremely attractive."

Berkshire and Omers Private Equity expect to close the transaction by the end of the third quarter of 2011. The management team of Husky is expected to be a significant investor in the business through continued equity ownership.

Omers Private Equity manages the private equity activities of Omers, one of Canada''s largest pension funds with over USD 53 billion in net assets.