Husky Injection Molding Systems completes C$960 million sale to Onex

On December 13, 2007, Husky Injection Molding Systems Ltd. was indirectly acquired by Onex Corporation for aggregate consideration of $960 million. The acquisition was completed by way of statutory plan of arrangement pursuant to which all of the issued and outstanding common shares of Husky were indirectly acquired by Onex for $8.235 per share, other than shares held by Robert Schad, Husky's controlling shareholder, his spouse, Elizabeth Schad and their holding company, which were acquired for $8.10 per share for the shares held by the Schads and Husky. The consideration paid to certain management shareholders of Husky was paid in shares of the acquisition vehicle. The acquisition was funded in part by senior credit facilities in the aggregate principal amount of US$520 million provided by a syndicate of lenders led by Royal Bank of Canada.

Husky is a global supplier of injection molding equipment and services to the plastics industry. It is headquartered in Bolton, Ontario, and has manufacturing facilities in Canada, the United States, Luxembourg and China.

Onex makes private equity investments through the Onex Partners and ONCAP family of Funds. Onex's operating companies generate annual revenues of $33 billion, have assets of $37 billion and employ 227,000 people worldwide.

Further information about the closing is found on Husky's website.