CABLE ties manufacturer HellermannTyton yesterday emerged as the latest company to be eyeing a float on the London Stock Exchange this year.
Doughty Hanson, the private equity firm which acquired HellermannTyton in 2005 for around £300m, has hired Goldman Sachs and JP Morgan to work on the listing, Sky News reported yesterday. The news comes amid signs of a revival in London’s moribund IPO market. Crest Nicholson successfully rekindled its London listing earlier this month, while estate agency Countrywide revealed its intention to float last week.
Doughty Hanson’s decision to list the company comes after the private equity group twice failed to sell the company. It is unclear what its expected valuation would be. Doughty Hanson declined to comment.