Mon, 24 Aug 2015 | DIVISION SALE
A sale of GKN's land systems and heavy equipment division could be on the cards in the coming weeks, The Sunday Times has reported.
Engineering giant GKN is reportedly considering the sale in light of a prolonged decline in demand for its heavy equipment.
A broader informal review of the company and its different areas of operation brought the issue to light and the division is now being considered for disposal as a result.
City sources told the paper that a number of private equity firms have already been showing an interest in Land Systems for some time, however, a quick sale does not appear to be on the cards and a formal sales process has not been entered into.
GKN produces components for vehicles used in mining, construction and farming. If it doesn't pursue a sale of the land systems division it may also look into folding some of its operations into its driveline business to assist development of vehicle power mechanisms.
The division's half-year results in July revealed a decline in the land systems division revenues of 13 per cent. Revenue dropped to £371 million while trading profit more than halved to £15 million.
Despite this, the company's chief executive has expressed confidence that the division will return to growth, albeit not in 2015. Potential buyers may well be looking at the long game when considering the potential for an acquisition.
View other engineering businesses for sale.
Once a thriving online garden centre started in 2018, after an internal dispute the business stopped trading in 2022. In a space of just 3 years the business achieved £500k in turnover. This is a perfect opportunity for someone looking for a new...
Presenting an opportunity to acquire a very profitable plumbers and heating merchants business operating nationwide.
Popular and well-regarded Sushi and Ramen restaurant and takeaway, which is situated in a prime city centre location in Norwich. The premises are set over three floors and are presented to an extremely high standard throughout and offers the opportun...
LEASEHOLD
26
|
Apr
|
Major double glazing firm Everest enters administration | ADMINISTRATION
Everest, one of the largest providers of double-glazing in t...
26
|
Apr
|
Kent-based scientific consultancy sold to US firm | BUSINESS SALE
A4P Consulting Limited, a scientific consultancy company hea...
25
|
Apr
|
Ambulance services provider acquired in pre-pack deal | BUSINESS SALE
Elite Emergency Medical Services Ltd (Elite EMS), an ambulan...
Business Sale Report is your complete solution to finding great acquisition opportunities.
Join today to receive:
All this and much more, including the latest M&A news and exclusive resources
Please choose your settings for this site below. For more information please read our Cookie Policy
These cookies are necessary for our website to function properly and provide you with access to all features.
These are analytics cookies that help us to improve the way our website works.
These are used to improve the functional performance of the website and make it easier for you to use.