Cleveland’s Cyprium Investment Partners LLC, along with New York’s Osgood Capital Group LLC, is acquiring the Uniloy Blow Molding business from the industrial technology company Milacron Holdings Corp.

Milacron is dropping the blow molding business as it concentrates on its core technologies, including its Milacron injection molding machines, Milacron extrusion equipment, Mold-Masters hot runner and control systems, DME mold components, and CIMCOOL fluid technologies.

The new Uniloy organization will be led by Milacron’s president of Blow Molding and Extrusion, Brian Marston, who will serve as its president and CEO.

“We are excited to have this opportunity to work with the outstanding Uniloy management team led by Brian," Osgood Capital President Joseph S. Levy said in a statement. "We expect to deliver world-class service and solutions for all our customers’ blow molding needs, as well as strong growth in Global Uniloy brands for years to come.”

The transaction is subject to customary closing conditions and is expected to close within the next 90 days.