Thu, 16 Sep 2010 | BUSINESS SALE
The owners of Edwards, the engineering firm, CCMP Capital and Unitas Capital, have drafted in a group of investment bankers to examine options for the business to include a £1.5 billion sale or flotation.
The current owners bought the business in 2007 for around £1 billion.
Established in 1919, Edwards has been at the helm of development for vacuum technology for the duration of its lifetime. It also commands over half of the world market for vacuum pumps used in the semi-conductor industry.
Likely bidders could include private equity firms Bain Capital KKR, The Carlyle Group and Permira. It is thought that major American and Asian technology businesses may also be interested. The auction is to commence in the autumn.
Edwards formed part of BOC Group until 2006, when it was disposed of during BOC’s takeover by German firm Linde.
The move to sell comes after Matthew Taylor and David Smith, former bosses of JCB and Jaguar Land Rover exited their previous jobs and joined Edwards.
Based in Crawley, West Sussex, and with 3,000 employees, Edwards supplies to the ten largest semi-conductor manufacturers in the world. About 60 per cent of its sales are derived from parts of Asia, namely south Korea, Japan, China and Taiwan.
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