Doughty Hanson ‘mulling HellermannTyton IPO’
PRIVATE equity company Doughty Hanson is preparing to float manufacturing group HellermannTyton, according to reports.
The investor, which has owned HellermannTyton since 2005 when it bought the company for about £300m has hired Goldman Sachs and JPMorgan to work on the listing, Sky News said.
London is a strong contender to host the flotation although other locations would be considered. The decision to list the company comes after Doughty Hanson twice failed to sell the company.
HellermannTyton, whose products include cable ties, fasteners and tubing, was founded in Manchester in the 1930s, and it still has a major siute at Sharston Green Business Park. The group’s registered office is now in Crawley, Sussex.
It supplies a number of markets including automotive, telecoms, security, rail and defence. It makes and distributes more than 20,000 different products with more than 30 offices worldwide and a workforce of 2,650.
