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Business News

HellermannTyton is set to launch €35m listing in London

The cabling products maker HellermannTyton is planning a London listing at the end of this month to raise €35m (£30m) to finance its growth.

The Sussex-based group, which wants to increase its manufacturing space by 40 per cent, said the offer will comprise new and existing shares. Hellermann's private-equity owner Doughty Hanson will sell some of its stake.

The company makes cable-management products, used for fastening, insulating, routing and connecting components in cables used in the electrical, automotive and datacom markets.

The business, established more than 70 years ago, has been operating internationally for four decades, with sales bases in 34 countries. It has operations in Walsall, Plymouth, Belfast and Dublin and half its sales come from Asia and the Americas.

Goldman Sachs and JPMorgan are acting as joint global co-ordinators and book-runners, with Numis Securities as lead manager.