HellermannTyton owner cuts stake

City A.M. Reporter
CABLE equipment maker HellermannTyton’s private equity owner is to sell 20 per cent of the company in a share placing.

Doughty Hanson is to place around 45m shares – valued at £126.9m at yesterday’s closing share price – in HellermannTyton, equating to about 21 per cent of the firm, Goldman Sachs, which is joint bookrunner alongside Morgan Stanley, said.

The bookrunners have agreed to waive the Doughty Hanson Initial Public Offering lock up, which was set to expire on 29 September.