Melrose Industries founder set to list new firm on London’s junior stock market

The founder of aerospace technology group Melrose Industries is set to list a new firm on London’s junior stock market.

It is being reported that Simon Peckham is leading plans to launch Rosebank Industries on the AIM sub-market for smaller firms, with talks understood to be underway to raise more than £40m from institutional investors.

Peckham’s new company could be the first to make its stock market debut in London after the general election.

Simon Peckham

The firm is anticipated to recreate Melrose’s ‘buy, improve, sell’ model and also focus on acquiring industrial UK-based firms. And after it buys its first target, it will move to the main London market.

Melrose is best known for its hostile £8bn hostile takeover and subsequent restructuring of aerospace giant GKN – a move which resulted in hundreds of job losses.

But Peckham, who left Melrose in March, claimed his takeover had created a British ‘aerospace champion’.

Executive vice-chairman Chris Miller and finance director Geoffrey Martin also stepped down from their roles.