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| UK Businesses For SaleRacal Acoustics looking at strategic options
01/07/2008
Racal Acoustics, the Harrow-based maker of military communications headsets, could be put up for auction.
ECI Partners have brought in corporate finance advisers at Hawkpoint to assess the strategic options for the business.A likely option is that an auction process will commence towards the end of the year. Racal has reportedly received several takeover approaches from private equity buyers. The company could be sold for £100m. Racal's products are used in Abrams and Bradley armoured vehicles, Challenger and Warrior tanks, Sea King helicopters and Hawk trainer aircraft. The products include military headsets, handsets and microphones. The company is mostly owned by private equity group ECI Partners, who funded a managememet buyout from US-based private equity firm JF Lehman three years ago for £50m who in turn bought the business from Thales, the French defence group, in 2004. Managing director Geoff Eeles and sales director Terry Buckley both hold minority stakes and would make sizeable returns from a sale of the business. |
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