Milacron LLC, a global plastics industry leader and provider of premium metal working fluids has announced the completion of its acquisition of hot runner systems manufacturer, Mold Masters.

Under the terms of the transaction, Milacron LLC, backed by affiliates of private equity firm CCMP Capital Advisors, LLC, acquired 100% of the shares of Mold-Masters for an enterprise value of CAN$975 million (US$950 million).

The newly formed entity comprised of five businesses: Milacron Plastics Machinery (Injection, Extrusion and Blow-Moulding); Mold-Masters (Hot Runners); DME Company (Mould Technologies); Aftermarket (Parts and Service); and CIMCOOL Fluid Technology (Metalworking Fluids and Services)

Tom Goeke, CEO of Milacron LLC said that the acquisition brings a wide range of plastics processing equipment, technologies and services globally, supported by a team of experts with the engineering, product development and application-specific expertise.

Goeke, will lead the combined entity with the support of an outstanding management group and a talented, global team of employees. Leadership of Milacron LLC's individual businesses, including Mold-Masters, will remain.