3/19/2013 12:05:00 AM
HEADLINES
HellermannTyton Eyes IPO
The parent company of nylon fastener manufacturer HellermannTyton Corp. confirmed its plan to float an IPO, according to TheBusinessDesk.com.
But reports on the size of the deal have varied widely, with some media outlets claiming the company sought to raise £30m (US$45.1m) with a listing on the London Stock Exchange.
The real figure is much higher. HellermannTyton seeks to raise about US$325 million, according to Bloomberg.
In 2012 HellermannTyton recorded revenues of £514.2 million (US$772.9m) and EBITDA of £100.4m (US$150.9m). The company’s estimated sale value stands at EUR 600 million, Bloomberg reports.
“HellermannTyton said that it would raise 35 million euros of new capital and sell an unspecified amount of shares already owned by its management and U.K. private-equity firm Doughty Hanson & Co,” Bloomberg reports. “The company’s free float will be about 40 percent.” (Click here to read the company’s IPO announcement.)
After planning to sell HellermannTyton in recent years, Doughty Hanson considered an IPO in 2012 before backing away from that plan.
The current IPO comes months after HellermannTyton expanded its U.S. operations by purchasing a 92,300-sq ft building in Milwaukee for $3.47 million.
Founded in the 1930s, HellermannTyton offers more than 20,000 products and employs 2,650 people worldwide. ©2013 GlobalFastenerNews.com
Related Stories:
• UK’s Tucker Fasteners To Close
• MSC Industrial To Acquire Barnes Distribution
• Report: HD Supply Going Public
• EU Places AD Levy on Chinese Screws to Philippines
Related Links:
Share: