Teachers' picks up Bridon for £365m

The company has been sold by listed parent Melrose Industries, which is contributing £6.7m to Bridon's pension scheme as part of the transaction.

Company
Doncaster-based Bridon manufactures wire rope for the industrial, mining, oil & gas, marine and specialised engineering sectors. The company produces ropes of wire, fibre, steel and strand used for lifting and stabilising.

In 2013, Bridon recorded sales of £266.4m, with EBITDA of £41.6m and operating profit of £34.1m. The company's gross assets were valued at £332.4m as of 30 June 2014.

Bridon operates globally through nine manufacturing facilities as well as technical and sales offices. The company is present throughout Europe, South America, the US, Asia and Australia.

People
Jane Rowe is senior vice president of Teachers'. Jonathan Templeman is CEO of Bridon.

Advisers
Vendor – Rothschild (Corporate finance); Nomura (M&A).

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• Topics
• UK / Ireland
• Buyouts
• Ontario Teachers' Private Capital
• United Kingdom