Brentwood, Tenn.-based Surgery Partners received a nonbinding acquisition proposal from Bain Capital Private Equity on Jan. 27, offering to buy all outstanding shares for $25.75 per share in cash.

“Milacron is an iconic American manufacturing business with a 50-year legacy of driving innovation in plastics,” said Matt Evans, a partner at Bain Capital Special Situations in a statement.

Investment to accelerate Milacron’s growth and strengthen its position as a global leader in highly engineered plastic processing solutions. Milacron’s comprehensive suite of equipment ...