Doughty Hanson-backed HellermanTyton could raise €250m from IPO


HellermanTyton cableDoughty Hanson-backed cable maker HellermanTyton could reportedly raise more than €250m in its London IPO this month.

The private equity firm is keen on selling some of the holding it picked up in 2005 according to Reuters, which cited two people familiar with the matter.

It said HellermanTyton also planned to raise up to $45m by selling at least 40 per cent of its own shares, which would be used to fund growth and increase manufacturing floor space by 40 per cent.

Doughty Hanson paid £303m for the business, which has operations in  32 countries and employs approximately 2,650 people.

It was the sixth investment from the firm’s €1.6bn Doughty Hanson & Co Fund IV.

The IPO comes after the firm twice failed to exit the company through a private sale, an earlier report from Sky News said.

Last month UK mid-market private equity firm Doughty Hanson announced it would not raise any more real estate or technology venture funds, a move which followed the creation of a new partnership structure in the wake of the death of its co-founder.

The firm has instead decided to focus purely on its private equity operations following a review conducted by co-founder Dick Hanson, who resumed his role as head of PE after the departure of Mark Corbidge in September 2012.

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