Dominion Lending Centres Clearlease Reports Berkshire Partners, Omers to buy Husky for $2.1 billion

Dominion Lending Centres Clearlease Reports Berkshire Partners, Omers to buy Husky for $2.1 billion

VANCOUVER, BRITISH COLUMBIA – (May 3, 2011) Clearlease Reports Private equity firms Berkshire Partners LLC and Omers Private Equity Inc struck a deal to buy Husky International from Canadian buyout shop Onex Corp for $2.1 billion.

Over the past year, there has been a flurry of secondary buyouts — when private equity firms sell assets to rival buyout firms — as firms are under pressure to invest billions of dollars raised during 2006 to 2008.

Onex and its affiliates bought Bolton, Ontario-based Husky with an equity investment of about $622 million in late 2007 and will get total net proceeds of $1.8 billion, it said in a statement. Onex’s portion of the proceeds is about $635 million.

The deal comes two weeks after Reuters reported that Berkshire Partners was in late-stage talks to buy the plastic molding equipment maker and that Bain Capital and several other private equity firms had also looked at the business, but walked away.

John Galt will continue to lead Husky, which is one of the world’s largest suppliers of injection molding equipment to make products such as bottles and caps for beverages, containers for food, medical components and consumer electronic parts.

“(Husky) is a global market leader in an industry that is poised to benefit from the growth in emerging markets,” Lisa Melchior, managing director of Omers, said in a statement.

Under Onex’s wing, Husky has reduced waste, shed non-core and non-performing assets, and re-invested with a focus on core customers, which has led to its operating profit more than doubling in the three years, Onex said.

Husky posted revenue of $1.1 billion in 2010, according to Onex’s website. The unit had earnings before interest, taxes, depreciation and amortization (EBITDA) of $197 million in the year ended September 30.

Boston-based Berkshire Partners typically does deals between $200 million and $2 billion, according to its website, while Toronto-based Omers has over $5.5 billion of investments under management.

The deal is expected to close early in the third quarter.

Shares of Toronto-based Onex closed at C$35.83 on Monday on the Toronto Stock Exchange.

Berkshire Partners and Omers said that affiliates of Goldman, Sachs & Co would provide financing and TD Securities Inc acted as their financial adviser.

Video Link: http://youtu.be/f_kk7WJa7Uk

For more information please visit us at: http://www.clearlease.com/Career-Opportunities.html

About Dominion Lending Centres Clearlease

Dominion Lending Centres Clearlease Commercial (DLC Clearlease/Clearlease.com) is a fully diversified Lease Finance Mortgage Banking Brokerage Company specializing in Equipment Leasing, Automobile Leasing, Residential, Commercial Lending/Mortgage Financing. DLC Clearlease possesses the capability to accommodate financing needs ranging from a small second Home Mortgage to a Multi-Million Dollar Commercial Projects. No mortgage is too small or too large for this integrated Company.

Equipment Lease Financing in Vancouver, Surrey, Delta, Richmond, Langley, New Westminster, North Vancouer, West Vancouver, B.C. Also offering Automobile Lease Financing and Mortgage information. Founded by the Pidgeon brothers.

You may have recently seen a Dominion Lending advertisement on such media outlets as: Global News, CTV News, CBC Television, Rogers Sportsnet or possibly heard the great Don Cherry, a Canadian Sports legend, discuss Dominion Lending Centres.

Contact DLC Clearlease.com:

Dominion Lending Centres Clearlease
HEAD OFFICE, Bentall Two, Suite 900, 555 Burrard Street, Vancouver, BC, V7X 1M8, CANADA.
Mr. Alexander Pidgeon, Editor in Chief
Tel: (604) 696-1221 ext. 199
eMail: clearlease@gmail.com
Website: http://www.clearlease.com
News: http://clearlease.com/category/equipment-lease-blog/feed/rss
Twitter: @clearlease

###

Video Link: http://youtu.be/f_kk7WJa7Uk

Dominion Lending Centres Clearlease Reports Berkshire Partners, Omers to buy Husky for $2.1 billion

VANCOUVER, BRITISH COLUMBIA – (May 3, 2011) Clearlease Reports Private equity firms Berkshire Partners LLC and Omers Private Equity Inc struck a deal to buy Husky International from Canadian buyout shop Onex Corp for $2.1 billion.

Over the past year, there has been a flurry of secondary buyouts — when private equity firms sell assets to rival buyout firms — as firms are under pressure to invest billions of dollars raised during 2006 to 2008.

Onex and its affiliates bought Bolton, Ontario-based Husky with an equity investment of about $622 million in late 2007 and will get total net proceeds of $1.8 billion, it said in a statement. Onex’s portion of the proceeds is about $635 million.

The deal comes two weeks after Reuters reported that Berkshire Partners was in late-stage talks to buy the plastic molding equipment maker and that Bain Capital and several other private equity firms had also looked at the business, but walked away.

John Galt will continue to lead Husky, which is one of the world’s largest suppliers of injection molding equipment to make products such as bottles and caps for beverages, containers for food, medical components and consumer electronic parts.

“(Husky) is a global market leader in an industry that is poised to benefit from the growth in emerging markets,” Lisa Melchior, managing director of Omers, said in a statement.

Under Onex’s wing, Husky has reduced waste, shed non-core and non-performing assets, and re-invested with a focus on core customers, which has led to its operating profit more than doubling in the three years, Onex said.

Husky posted revenue of $1.1 billion in 2010, according to Onex’s website. The unit had earnings before interest, taxes, depreciation and amortization (EBITDA) of $197 million in the year ended September 30.

Boston-based Berkshire Partners typically does deals between $200 million and $2 billion, according to its website, while Toronto-based Omers has over $5.5 billion of investments under management.

The deal is expected to close early in the third quarter.

Shares of Toronto-based Onex closed at C$35.83 on Monday on the Toronto Stock Exchange.

Berkshire Partners and Omers said that affiliates of Goldman, Sachs & Co would provide financing and TD Securities Inc acted as their financial adviser.

Video Link: http://youtu.be/f_kk7WJa7Uk

For more information please visit us at: http://www.clearlease.com/Career-Opportunities.html

About Dominion Lending Centres Clearlease

Dominion Lending Centres Clearlease Commercial (DLC Clearlease/Clearlease.com) is a fully diversified Lease Finance Mortgage Banking Brokerage Company specializing in Equipment Leasing, Automobile Leasing, Residential, Commercial Lending/Mortgage Financing. DLC Clearlease possesses the capability to accommodate financing needs ranging from a small second Home Mortgage to a Multi-Million Dollar Commercial Projects. No mortgage is too small or too large for this integrated Company.

Equipment Lease Financing in Vancouver, Surrey, Delta, Richmond, Langley, New Westminster, North Vancouer, West Vancouver, B.C. Also offering Automobile Lease Financing and Mortgage information. Founded by the Pidgeon brothers.

You may have recently seen a Dominion Lending advertisement on such media outlets as: Global News, CTV News, CBC Television, Rogers Sportsnet or possibly heard the great Don Cherry, a Canadian Sports legend, discuss Dominion Lending Centres.

Contact DLC Clearlease.com:

Dominion Lending Centres Clearlease
HEAD OFFICE, Bentall Two, Suite 900, 555 Burrard Street, Vancouver, BC, V7X 1M8, CANADA.
Mr. Alexander Pidgeon, Editor in Chief
Tel: (604) 696-1221 ext. 199
eMail: clearlease@gmail.com
Website: http://www.clearlease.com
News: http://clearlease.com/category/equipment-lease-blog/feed/rss
Twitter: @clearlease

###

Video Link: http://youtu.be/f_kk7WJa7Uk

Dominion Lending Centres Clearlease Reports Berkshire Partners, Omers to buy Husky for $2.1 billion

VANCOUVER, BRITISH COLUMBIA – (May 3, 2011) Clearlease Reports Private equity firms Berkshire Partners LLC and Omers Private Equity Inc struck a deal to buy Husky International from Canadian buyout shop Onex Corp for $2.1 billion.

Over the past year, there has been a flurry of secondary buyouts — when private equity firms sell assets to rival buyout firms — as firms are under pressure to invest billions of dollars raised during 2006 to 2008.

Onex and its affiliates bought Bolton, Ontario-based Husky with an equity investment of about $622 million in late 2007 and will get total net proceeds of $1.8 billion, it said in a statement. Onex’s portion of the proceeds is about $635 million.

The deal comes two weeks after Reuters reported that Berkshire Partners was in late-stage talks to buy the plastic molding equipment maker and that Bain Capital and several other private equity firms had also looked at the business, but walked away.

John Galt will continue to lead Husky, which is one of the world’s largest suppliers of injection molding equipment to make products such as bottles and caps for beverages, containers for food, medical components and consumer electronic parts.

“(Husky) is a global market leader in an industry that is poised to benefit from the growth in emerging markets,” Lisa Melchior, managing director of Omers, said in a statement.

Under Onex’s wing, Husky has reduced waste, shed non-core and non-performing assets, and re-invested with a focus on core customers, which has led to its operating profit more than doubling in the three years, Onex said.

Husky posted revenue of $1.1 billion in 2010, according to Onex’s website. The unit had earnings before interest, taxes, depreciation and amortization (EBITDA) of $197 million in the year ended September 30.

Boston-based Berkshire Partners typically does deals between $200 million and $2 billion, according to its website, while Toronto-based Omers has over $5.5 billion of investments under management.

The deal is expected to close early in the third quarter.

Shares of Toronto-based Onex closed at C$35.83 on Monday on the Toronto Stock Exchange.

Berkshire Partners and Omers said that affiliates of Goldman, Sachs & Co would provide financing and TD Securities Inc acted as their financial adviser.

Video Link: http://youtu.be/f_kk7WJa7Uk

For more information please visit us at: http://www.clearlease.com/Career-Opportunities.html

About Dominion Lending Centres Clearlease

Dominion Lending Centres Clearlease Commercial (DLC Clearlease/Clearlease.com) is a fully diversified Lease Finance Mortgage Banking Brokerage Company specializing in Equipment Leasing, Automobile Leasing, Residential, Commercial Lending/Mortgage Financing. DLC Clearlease possesses the capability to accommodate financing needs ranging from a small second Home Mortgage to a Multi-Million Dollar Commercial Projects. No mortgage is too small or too large for this integrated Company.

Equipment Lease Financing in Vancouver, Surrey, Delta, Richmond, Langley, New Westminster, North Vancouer, West Vancouver, B.C. Also offering Automobile Lease Financing and Mortgage information. Founded by the Pidgeon brothers.

You may have recently seen a Dominion Lending advertisement on such media outlets as: Global News, CTV News, CBC Television, Rogers Sportsnet or possibly heard the great Don Cherry, a Canadian Sports legend, discuss Dominion Lending Centres.

Contact DLC Clearlease.com:

Dominion Lending Centres Clearlease
HEAD OFFICE, Bentall Two, Suite 900, 555 Burrard Street, Vancouver, BC, V7X 1M8, CANADA.
Mr. Alexander Pidgeon, Editor in Chief
Tel: (604) 696-1221 ext. 199
eMail: clearlease@gmail.com
Website: http://www.clearlease.com
News: http://clearlease.com/category/equipment-lease-blog/feed/rss
Twitter: @clearlease

###

Video Link: http://youtu.be/f_kk7WJa7Uk



Site Map | Privacy Policy | XML Sitemap | Terms of Use | Equipment Lease Financing RSS Feed

© Copyright 2015 - Clearlease.com - Independently Owned & Operated
All trademarks are the property of their respective owners. All Rights Reserved.
This is not a commitment to lend. Home mortgages are subject to underwriting review and approval. This is a free no obligation service.
Yahoo®, Google®, Bing ® are trademarks of their respective owners.
REALTOR® -- A Registered collective membership mark that identifies a real estate professional who is a member of the National Association of REALTORS® and subscribes to its strict Code of Ethics.
The MLS® is a Trademark of Multiple Listing Service, Inc.
All Commercial Mortgage and Residential Mortgage Loan Applications are processed by Dominion Lending Centres Commercial Capital Inc.
DLC® is a Trademark of Dominion Lending Centres, Inc.
All Automobile Loan & Lease Applications are funded by the Funder.
No part of this content, data or information included herein may be reproduced, republished or redistributed.


Vancouver Mortgage Leads - Residential Mortgage Leads Venacouver - FREE Mortgage Quote Vancouver
Vancouver Mortgage Leads - Residential Mortgage Leads Venacouver - FREE Mortgage Quote VancouverVancouver Mortgage Leads - Residential Mortgage Leads Venacouver - FREE Mortgage Quote VancouverVancouver Mortgage Leads - Residential Mortgage Leads Venacouver - FREE Mortgage Quote Vancouver