One of the world’s largest manufacturers of clips and fixings for cables, is being put up for auction.
The company makes and distributes over 20,000 products, including cable protectors and insulators, routing systems, cable ties and fixings, identification systems and specialist electrical tools.
The auction is expected to attract plenty of interest with auction attendees rumoured to include US-based Hubbell and Indian trade buyers, Canadian pension funds, and private equity groups.
The expected sale price is around £700 million.
Hellermann Tyton operates from its plants in Manchester and Plymouth, a distribution centre in Aldridge, West Midlands and its bases in Ireland and France. Hellermann Tyton also has 32 offices worldwide and a workforce of 2,650.
Its owner Doughty Hanson, a private equity house, has brought in investment bank UBS to manage the auction. Doughty purchased Hellermann Tyton in 2005 from telecoms company Spirent for £288 million.
Revenues achieved by Hellermann Tyton Limited for the year to 31 Dec 2009 exceeded £37.75 million, while pre-tax losses of £5.118 million were also recorded.
Several deals took place in the UK’s industrial sector in 2010. Engineering company Tomkins was bought by a consortium of Canadian pension funds for £2.9 billion. Power solution provider Chloride also changed hands to a new owner US business Emerson in a deal worth £930 million.
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