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Doughty Hanson sells part of HellermannTyton stake for £119m

26 Sep 2013

pounds11_sqPrivate equity firm Doughty Hanson has divested of a 20.9 per cent stake in cable equipment company HellermannTyton Group for £119.25m.

Following the sale, the firm holds a 21.6 per cent interest in the business.

Doughty Hanson sold the stake at a price of 265 pence per share, which is a discount to yesterday’s closing price of 282 pence.

HellermanTyton was floated at a price of 195 pence per share in March this year with Doughty collecting proceeds of nearly £180m from the IPO, which valued the business at £420m.

Doughty dropped its stake from 95.5 per cent to 46.1 per cent through the offering.

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

The IPO came after the firm twice failed to exit the company through a private sale, according to Sky News.

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