Milacron has bought Mold-Masters for CAD$975m (€714m) and said the deal opens up greater opportunities for global expansion.
Milacron, backed by private equity group CCMP Capital Advisors, works in plastics processing technologies with injection moulding and extrusion processing equipment.
Mold-Masters is a hot-runner manufacturer with a presence in North America, Europe and Asia serving the closures, packaging and PET markets.
The transaction will create a company with capabilities across five businesses: Milacron (Plastics Machinery), Mold-Masters (Hot Runners), DME (Mold Base Technologies), Aftermarket (Parts and Service) and CIMCOOL Fluid Technology (Metalworking Fluids and Services).
Tom Goeke, chief executive officer of Milacron, said: “The acquisition creates a global leader in the plastics industry with the scale, technological leadership, international presence and competitive positioning to deliver a wide range of products and services to more customers in more markets around the world.”