Hellermann Tyton's business is the making of cabling products and has announced it would list at least 40% of its shares in the London Stock Exchange this March. The move would reduce the stake of its private equity owner and generate funds for the company.
The Initial Public Offering is planning to raise Eur35 million to fund growth as well as add another forty percent of manufacturing floor space. The owner, private equity company Doughty Hanson would also be selling some of its interest but declined the volume of shareholdings to be divested.
According to Hellermann Tyton CEO Steve Salmon, the proceeds would help group organic growth with three to four percent global industrial production as well as fund small acquisitions. Managers who would be selling their shares would retain at least 80% of company interest and Doughty Hanson has agreed not to sell any more of its stake for at least the next six months.
Goldman Sachs and JP Morgan would be coordinators and bookrunners and would be supervised by Numis Securiities.
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