9/26/2013 11:24:00 AM
NEWS BRIEFS
HellermannTyton Owner Divests
The parent company of nylon fastener manufacturer HellermannTyton Corp. cut its stake by $191 million, Reuters reports.
Private equity group Doughty Hanson reportedly sold a 21% stake in HellermannTyton.
Doughty Hanson completed an IPO in March listing HellermannTyton on the London Stock Exchange. HellermannTyton stock has risen 45% since the listing, according to Reuters.
The latest news comes about a year 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
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