7/23/2012 1:22:00 PM
NEWS BRIEFS
Report: Hellermann Tyton Deal Unlikely Until 2013
UK fastener manufacturer Hellermann Tyton is in the “early days” of any sale activity, with the company expected to be offered up for sale near the end of 2012, the Manchester Evening Newsreports.
The company, owned by buyout firm Doughty Hanson, could be valued at close to £1bn, though other reports put the value closer to £800m.
Doughty Hanson reportedly has appointed DC Advisory Partners to consider strategic options for Hellermann Tyton, which has factories in Manchester and Plymouth, as well as the U.S. and other countries. The company employs more than 2,600 workers worldwide, including about 260 in the U.S.
Despite the likely sale, the company’s U.S. operations expanded by purchasing a 92,300 sq ft building in Milwaukee, WI, for $3.47 million, according to the Milwaukee Journal Sentinel.
Hellermann Tyton reportedly plans to expand its local operations by adding as many as 50 employees at the new location (6701 W. Good Hope Road). The company also operates at 7930 N. Faulkner Road and 8475 N. 87th St. in Milwaukee.
Hellermann Tyton makes cable ties and fasteners for customers in the automotive, construction and security industries. ©2012 GlobalFastenerNews.com
Related Stories:
• Hellermann Tyton Expands in the U.S.
• Asian Wire Rod Prices Dropping
Related Links:
Share: