In a landmark move set to redefine the landscape of the global plastics processing industry, Bain Capital, a premier private investment firm, has announced a majority investment in Milacron Injection Molding and Extrusion, a globally recognized provider of highly engineered plastic processing equipment and services. This partnership marks a pivotal moment for Milacron as it seeks to accelerate its growth trajectory and solidify its position as a leader in the sector.
Under the terms of the agreement, Bain Capital will acquire an ownership stake of approximately 51% in Milacron for $287 million, subject to customary closing adjustments. Hillenbrand, Inc. (NYSE: HI), Milacron’s current owner, will retain a significant 49% ownership stake, ensuring continued alignment with the business’s future success. The transaction underscores Bain Capital’s commitment to fostering industrial innovation and supporting companies poised for long-term growth.
A Legacy of Innovation and Leadership
Since its founding in 1968, Milacron has been at the forefront of engineering cutting-edge solutions for the plastics processing industry. The company is renowned for its injection molding and extrusion equipment, as well as its comprehensive aftermarket parts and services. With the largest installed base of equipment in the United States, Milacron serves as a complete lifecycle partner to its customers, offering unparalleled support across diverse end-markets such as construction, automotive, packaging, consumer goods, and medical industries.
Milacron’s reputation as a market leader stems from its deep expertise in product development and customer service. Its innovative technologies enable the production of essential products used daily around the world, making it a cornerstone of modern manufacturing. As global manufacturers increasingly prioritize supply-chain resilience and domestic production, Milacron is uniquely positioned to capitalize on these trends and drive further innovation in the sector.
Bain Capital’s Vision for Growth
Matt Evans, a Partner at Bain Capital Special Situations, expressed enthusiasm about the partnership, stating, “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.
Evans highlighted Milacron’s advanced engineering capabilities, global reach, and strong customer relationships as key factors that position the company for sustained success. He emphasized that Bain Capital’s investment will help unlock new avenues for growth, enabling Milacron to expand its footprint and enhance its offerings in response to evolving market demands.
Chris Sun, a Principal at Bain Capital Special Situations, echoed this sentiment, adding, “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.” Sun noted that Milacron’s combination of industry-leading engineering and manufacturing capabilities with innovative technology aligns perfectly with Bain Capital’s vision for creating long-term value.
Strategic Alignment with Hillenbrand
The decision to partner with Bain Capital followed an extensive portfolio review by Hillenbrand, which concluded that this strategic alliance would best position Milacron for future success. Kim Ryan, Hillenbrand’s President & CEO, remarked, “Following an in-depth portfolio review, we determined that Milacron would be best positioned for the future through this partnership with Bain Capital.”
Ryan praised Bain Capital’s proven track record of successful corporate partnerships, noting that the firm’s resources and expertise will drive future growth and success for Milacron’s associates, customers, and Hillenbrand’s shareholders. By retaining a significant ownership stake, Hillenbrand demonstrates its confidence in Milacron’s potential and its commitment to supporting the company’s ongoing evolution.
Bain Capital’s Expertise in Industrial Growth
Bain Capital’s Special Situations team, which led the investment, brings a wealth of experience in supporting industrial and manufacturing businesses globally. With over $22 billion in assets under management and more than $16 billion invested since its inception in 2018, the team specializes in providing tailored capital solutions to meet the diverse needs of companies, entrepreneurs, and asset owners. This investment follows the successful close of Bain Capital’s second vintage of funds, which raised over $9 billion, underscoring the firm’s ability to deliver transformative outcomes for its partners.
The transaction is expected to close at the end of Milacron’s fiscal second quarter or the beginning of its fiscal third quarter. Deutsche Bank served as the exclusive financial advisor, while Paul, Weiss, Rifkind, Wharton & Garrison LLP provided legal counsel to Bain Capital.
About Bain Capital
Founded in 1984, Bain Capital is a global leader in private investment, managing approximately $185 billion in assets across five focus areas: Private Equity, Growth & Venture, Capital Solutions, Credit & Capital Markets, and Real Assets. With 24 offices spanning four continents and a team of over 1,850 employees, Bain Capital is committed to creating lasting impact for its investors, businesses, and communities. The firm’s collaborative culture and innovative approach have enabled it to unlock opportunities and deliver exceptional outcomes across industries.
About Hillenbrand
Hillenbrand is a global industrial company that provides highly engineered, mission-critical processing equipment and solutions to customers in over 100 countries. Its portfolio includes leading brands serving large, attractive end markets such as durable plastics, food, and recycling. Guided by a commitment to excellence, collaboration, and innovation, Hillenbrand consistently shapes solutions that benefit its associates, customers, communities, and stakeholders.
