Doughty sells part of HellermannTyton stake

The share placement saw Doughty's stake in HellermannTyton reduced to 21.6% from the previous 42.5%, or down to 46.6 million shares. The company was listed on the London Stock Exchange (symbol HTY) in March this year at an initial £1.95 per share. The total size of the offering was £227m, which saw a free float of 54% of the company.

Previous funding
Doughty acquired HellermannTyton from Spirent for £303m in February 2006. The acquisition valued the company at 7.5x EBITDA and included a £139m equity investment supported by a £180m debt package provided by RBS, according to unquote" data. 

Company
Headquartered in the UK, HellermannTyton operates in 34 countries. The company's systems are used for fastening, identifying, insulating, protecting, routing and connecting components. It mainly supplies the electrical and automotive industries.

HellermannTyton was founded in 1933, as Insuloid Manufacturing Company, by the Emery family. Today, the company employs 3,000 people globally. In the UK, HellermannTyton has manufacturing sites in Manchester and Plymouth, as well as distribution centres in Aldridge, Ireland and Northern Ireland. The Manchester facility is one of three design centres alongside sites in Germany and France.

People
Former partner Steve Bone led the original investment for Doughty.

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