6/14/2012 10:37:00 AM
NEWS BRIEFS
Report: Hellermann Tyton May Be Sold
UK fastener manufacturer Hellermann Tyton may be put up for sale, according to Sky.com.
The company, owned by buyout firm Doughty Hanson, could be valued at close to £1bn.
Doughty Hanson reportedly has appointed DC Advisory Partners to consider strategic options for Hellermann Tyton, which has factories in Manchester and Plymouth.
Hellermann Tyton makes cable ties and fasteners for customers in the automotive, construction and security industries.
In 2011 Hellermann Tyton sales grew by more than 10%, “suggesting that Doughty’s valuation of HellermannTyton of up to £800m during a previous attempt to sell it is likely to be exceeded during the new sale process,” writes Mark Kleinman of Sky.com.
Doughty Hanson reportedly has been approached by more than one company expressing interest in acquiring Hellermann Tyton, which was acquired by Doughty Hanson in 2006 for close to £300m. ©2012 GlobalFastenerNews.com
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