Melrose Industries

From Wikipedia, the free encyclopedia
Jump to navigation Jump to search
Melrose Industries plc
Public limited company
Traded as LSEMRO
Industry Finance
Founded 2003
Headquarters London, UK
Key people
Christopher "Jock" Miller (Co-founder & Executive Chairman)
David Roper (Co-founder & Executive Vice Chairman)
Simon Peckham (Co-founder & Chief Executive)
Revenue £2,092.2 million (2017)[1]
£(6.9) million (2017)[1]
£(23.9) million (2017)[1]
Website www.melroseplc.net

Melrose Industries plc (LSEMRO) is a London-based company that specialises in buying and improving underperforming businesses. Its shares are listed on the London Stock Exchange as a constituent of the FTSE 100 Index.

History

Sculpture at Melrose's head office at Leconfield House in Curzon Street, London

Melrose was founded in 2003. It acquired Dynacast, a manufacturer of diecast parts and components, and McKechnie, an engineering group, in 2005,[2] selling McKechnie Aerospace and McKechnie PSM for $855m two years later.[3] In 2008 it bought FKI, an engineering business that included the Brush Turbogenerators unit.[4] It sold Dynacast in 2011.[5] It sold McKechnie Plastic Components in June 2012[6] and acquired Elster, a metering business, in August 2012.[7] In July 2015 it sold Elster to Honeywell.[8] It bought Nortek, a ventilation equipment manufacturer, for £2.2 billion in July 2016.[9]

Melrose bid £8.1 billion for GKN in March 2018.[10][11][12] The UK Government allowed the transaction to proceed, having reviewed objections by GKN workers and unions,[13] and after Melrose agreed national security measures.[14]

Operations

Melrose's main subsidiaries are Brush Turbogenerators,[4] GKN[14] and Nortek.[9]

References

  1. ^ a b c "Preliminary Results 2017" (PDF). Melrose Industries. Retrieved 27 March 2018.
  2. ^ "Melrose engineers £429m deal". The Telegraph. 22 April 2005. Retrieved 10 April 2016.
  3. ^ Melrose sells McKechnie Aerospace in $856m deal Reuters, 26 March 2007
  4. ^ a b "FKI accepts £480m bid from Melrose". FT. 22 April 2008. Retrieved 10 April 2016.
  5. ^ "Melrose sells Dynacast for $590m". Financial Times. Retrieved 30 March 2015.
  6. ^ "Melrose sells £70m turnover McKechnie". Insider Media. Retrieved 10 April 2016.
  7. ^ "Melrose to Acquire Elster for $2.3 Billion to Add Metering". Bloomberg L.P. 29 June 2012. Retrieved 26 June 2014.
  8. ^ "Melrose shares soar on £3.3bn sale of Elster to Honeywell". 28 July 2015. Retrieved 10 April 2016.
  9. ^ a b "Melrose bets £2.2bn on US housing growth with Nortek takeover". The Telegraph. 6 July 2016. Retrieved 2 September 2016.
  10. ^ Michael Gubisch (29 March 2018). "Melrose wins shareholder support for GKN takeover". Flightglobal.
  11. ^ Robert Wall (March 29, 2018). "Melrose Industries Wins Bruising Takeover Battle for Britain's GKN". The Wall Street Journal. Retrieved May 1, 2018.
  12. ^ Phil Serafino, Benjamin D Katz (January 17, 2018). "Melrose Makes $10.2 Billion Hostile Offer to Acquire GKN". Bloomberg. Retrieved May 1, 2018.
  13. ^ "GKN takeover concerns to be assessed by government". BBC. 30 March 2018. Retrieved 3 April 2018.
  14. ^ a b "GKN takeover given green light". Reuters. 24 April 2018. Retrieved 24 April 2018.

Company websites

  • Melrose company website


Retrieved from "https://en.wikipedia.org/w/index.php?title=Melrose_Industries&oldid=862993634"
This content was retrieved from Wikipedia : http://en.wikipedia.org/wiki/Melrose_Industries
This page is based on the copyrighted Wikipedia article "Melrose Industries"; it is used under the Creative Commons Attribution-ShareAlike 3.0 Unported License (CC-BY-SA). You may redistribute it, verbatim or modified, providing that you comply with the terms of the CC-BY-SA