Ensor pursuing break-up plan
ENSOR Holdings, the Manchester industrial products company, says it is planning to sell off all its subsidiaries rather than find a buyer for the whole group.
The company which comprises OSA Door Parts, Wood’s Packaging, Technocover and Ellard – which makes electric drives for automated door shutters, said it is in talks with a number of buyers.
Chairman Ken Harrison said: “At the end of May this year we announced that we had initiated a review of our strategic options to maximise shareholder value, including a potential sale of the group. Accordingly, a process has been under way to find a buyer.
“Due to the varied nature of the markets within which our subsidiaries operate, we have determined that a series of trade sales, rather than seeking a buyer for the shares of Ensor Holdings PLC, is the best way forward.
“The response has been encouraging and discussions are currently taking place with potential buyers.”
The Wythenshawe headquartered company also reported results for the six months to the end of September, which showed a 16% hike in sales to £19.6m and profits jumping from £1.3m to £2.2m after a near £800,000 gain from the sale of two properties.
