Extrusion systems supplier Davis-Standard LLC (Pawcatuck, CT) was sold by private equity firm Hamilton Robinson and Davis-Standard management shareholders to ONCAP, the mid-market private equity platform of Toronto-based investment firm Onex. The deal, which closed on Dec. 23, 2011, was announced to the market on Jan. 4, 2012 and ends Hamilton Robinson's involvement with Davis-Standard.
That involvement goes back to its 2003 acquisition of Black Clawson Converting Machinery, which later merged with Davis-Standard in 2005, leaving the combined company with two primary units: converting: including the Egan and Black Clawson brands, and extrusion systems, led by D-S.
James Murphy, president of extrusion systems at Davis-Standard, told PlasticsToday that the sale by Hamilton Robinson was expected, fulfilling a normal investment cycle. "It's normal for [a private equity firm] to look to exit at some time," Murphy said....