Milacron Holdings Corp., Cincinnati, has found a buyer for its Uniloy blow molding machinery business.

The plastics machinery maker, which indicated in a recent quarterly financial statement that it was cutting ties with Uniloy, announced on May 14 that it has entered into an agreement with two private-equity firms. The sale, to Cyprium Investment Partners LLC and Osgood Capital Group LLC, is expected to close within 90 days, Milacron said in a press release.

Brian Marston, who currently serves as president of blow molding and extrusion with Milacron, will lead the new Uniloy organization, based in Tecumseh, Mich., as its president and CEO.

“The new Uniloy organization will continue to provide the same high-performance machinery, technical expertise and aftermarket support that our customers have experienced since the 1960s,” he said “The Uniloy brand will continue to be recognized as a global leader in the blow molding industry. We will be working hand in hand with Milacron to make this a seamless transition for our customers. All existing orders will continue to be manufactured to the industry’s highest standards.”

According to Milacron President and CEO Tom Goeke, Uniloy joined Milacron in 1998. Milacron’s sale of the business unit allows it to concentrate on its other divisions and brands, including Milacron injection molding machines and extrusion equipment, Mold-Masters hot-runner and control systems, DME mold components, and CimCool fluid technologies.

Cyprium has offices in Cleveland, New York and Chicago, while Osgood’s president, Joseph S. Levy, is based in Houston. Levy has more than 25 years of experience in the plastics and packaging industry.