Clip maker Hellermann Tyton expected to fetch £700m
Hellermann Tyton, one of the world's biggest producers of clips and fixings for cables, has been put up for sale with a £700m price tag.
Bundle: Hellerman makes 20,000 different products.
Private equity owner Doughty Hanson has appointed investment bank UBS to handle the auction, which is expected to attract the interest of overseas buyers.
The Manchester-based company produces and distributes more than 20,000 different products with 32 offices worldwide and a workforce of 2,650.
Doughty Hanson bought Hellermann Tyton from telecoms firm Spirent for £288m in 2005.
Hellerman Tyton provides products to major automotive companies including BMW. It also supplies construction firms, such as Berkeley Group, as well as security and broadband companies.
Hellerman Tyton has manufacturing plants at Manchester and Plymouth, together with a distribution centre in Aldridge, West Midlands, and others in France and Ireland.
Sources said trade buyers such as US-based Hubbell and Indian companies would be interested. Canadian pension funds are also thought to be keen.
There was huge interest in Britain's industrial market last year. Engineering group Tomkins was sold for £2.9bn to a consortium of Canadian pension funds.
US firm Emerson acquired power solution provider Chloride for £930m. Private equity groups are also likely to take an interest in the sale.
Meanwhile, Dutch financial giant ING is to sell its real estate private equity division to industry adviser CB Richard Ellis for £658m.
ING is preparing to dispose of its entire property empire, with Goldman Sachs advising.
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