Bain Capital, a leading private investment firm, announced a majority investment in the Milacron Injection Molding and Extrusion business, a globally renowned provider of highly engineered plastic processing equipment and services. Bain Capital will partner with Milacron’s current owner, Hillenbrand, who will remain a significant investor in the business and accelerate the company’s continued growth. Bain Capital had entered into a definitive agreement to buy an ownership stake of approximately 51% of Milacron for $287 million, subject to customary closing adjustments. And Hillenbrand will retain an ownership stake of approximately 49%.
Since 1968, Milacron has been a global provider of engineered plastic processing solutions, including injection molding and extrusion equipment and aftermarket parts and services. It has long been recognized as a market leader for its product and service expertise, serving various end markets, including the construction, automotive, packaging, consumer goods, and medical industries. With the largest installed base of equipment in the U.S., Milacron is a complete lifecycle partner, utilizing its extensive support network to deliver comprehensive aftermarket parts and services solutions.
Bain Capital’s Special Situations team is making this investment following the closing of its second vintage of funds, which raised over $9 billion. Bain Capital Special Situations has $22 billion in assets under management and has invested over $16 billion since launching in 2018, providing bespoke capital solutions to the diverse needs of companies, entrepreneurs, and asset owners. With a track record of supporting industrial and manufacturing businesses globally, the team brings deep expertise in driving operational growth and long-term value creation.
The deal is expected to close at the end of the company’s fiscal second quarter or the beginning of the fiscal third quarter.
Deutsche Bank is serving as exclusive financial advisor, and Paul, Weiss, Rifkind, Wharton & Garrison is serving as legal advisor to Bain Capital.
KEY QUOTES:
“Milacron is an iconic American manufacturing business with a 50-year legacy of driving innovation in plastics. With manufacturers increasingly focused on supply-chain resilience and domestic production, we believe the U.S. is entering a manufacturing renaissance that will create significant opportunities for industry leaders like Milacron. With its advanced engineering capabilities, global reach, and deep customer relationships, Milacron is well-positioned to build on its strong foundation.”
– Matt Evans, a Partner at Bain Capital Special Situations
“We are excited to partner with Mac Jones, the President of Milacron, and the entire Milacron team to support the next chapter of growth of one of the world’s premier plastics processing solutions businesses. Milacron combines industry-leading engineering and manufacturing capabilities with innovative technology to enable the production of essential products used daily in the U.S. and around the world. We share a common vision with Milacron’s associates, customers, and other partners to continue building on Milacron’s more than 50-year legacy to create an even stronger future ahead.”
– Chris Sun, a Principal at Bain Capital Special Situations
“Following an in-depth portfolio review, we determined that Milacron would be best positioned for the future through this partnership with Bain Capital. Bain Capital has a proven track record of successful corporate partnerships and will provide greater resources to Milacron, which we believe will drive future growth and success for Milacron’s associates and customers, as well as for Hillenbrand’s shareholders.”
– Kim Ryan, Hillenbrand President & CEO
