UK electronics firm Laird Group announced the divestment of its security unit to Lupus Capital, the AIM-listed turnaround firm, for £242.5m. 

The sale will allow Laird to focus on the electronics and technology market. Already manufacturing magnetic shielding, heat management and antennae equipment for hi-tech mobile phones, cars and laptops, the firm is now looking to become an electronics and technology specialist, and hinted towards further acquisitions in the sector.

 The home security division, which manufactures conservatories, PVC doors and seals as well as other products, brought in around 40 per cent of last year’s revenue. Laird has announced its intention to return £100m to shareholders through a special dividend after completion of the sale.

Analysts have welcomed the sale as a positive move for the group. Chief Executive Peter Hill commented that “The security systems division has been very helpful in supporting [our] growth, and the time is now right for a separation.”