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3i Group makes 2.1x return on Mold-Masters exit

12 Feb 2013

sale5_lrgPrivate equity firm 3i Group has exited its investment in plastic equipment specialist Mold Masters by selling it to Milacron for C$975m (£615m), a 2.1 times money multiple on the C$166m it has invested in the business.

The sale price also represents a 90 per cent premium to the company’s opening value of £115m as at March last year.

Simon Borrows, 3i’s chief executive said: “Our private equity business has been focused on intensively managing our existing portfolio of investments and seeking realisations where we can maximise proceeds, and in doing so, demonstrate healthy value uplifts to NAV and good cash profits.

“Strong businesses like Mold-Masters are always in demand and today’s news is an example of what can be achieved from careful planning and a well run auction process underpinned by robust market conditions.”

Since 3i’s initial investment in Mold-Masters in 2007 the company has expanded its operations in Asia, Europe and South America and made a series of bolt-on acquisitions.

Between 2009 and 2012,the company substantially grew its market share with its turnover soaring from C$168m to C$271m.

3i added that it will continue to pursue investments of this type in Europe and North America.

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