Melrose Industries
| File:Melrose Industries logo.svg | |
| Company type | Public limited company |
|---|---|
| LSE: MRO | |
| Industry | Finance |
| Founded | 2003 |
| Founder | Christopher Miller David Roper Simon Peckham  |
| Headquarters | London, England, UK |
Key people |
|
| Revenue | £8,605 million (2018)[1] |
| £(392) million (2018)[1] | |
| £(475) million (2018)[1] | |
| Website | www.melroseplc.net |
Melrose Industries plc (LSE: MRO) 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
Melrose was founded in 2003 by David Roper, Christopher Miller and Simon Peckham.[2]
Melrose acquired Dynacast, a manufacturer of diecast parts and components, and McKechnie, an engineering group, in 2005,[3] selling McKechnie Aerospace and McKechnie PSM for $855m two years later.[4] In 2008 it bought FKI, an engineering business that included the Brush Turbogenerators unit.[5] It sold Dynacast in 2011.[6] It sold McKechnie Plastic Components in June 2012[7] and acquired Elster, a metering business, in August 2012.[8] In July 2015 it sold Elster to Honeywell.[9]
Melrose changed structure later in 2015.[10]
It bought Nortek, a ventilation equipment manufacturer, for £2.2 billion in July 2016.[11]
Melrose bid £8.1 billion for GKN in March 2018.[12][13][14] The UK Government allowed the transaction to proceed, having reviewed objections by GKN workers and unions,[15] and after Melrose agreed national security measures.[16]
Operations
Melrose's main subsidiaries are Brush Turbogenerators,[5] GKN[16] and Nortek.[11]
References
- ^ a b c "Preliminary Results 2018" (PDF). Melrose Industries. Retrieved 8 March 2019.
- ^ Kollewe, Julia (29 March 2018). "Melrose trio who sought biggest deal yet with GKN – and biggest challenge". The Guardian. Retrieved 6 January 2020.
- ^ "Melrose engineers £429m deal". The Telegraph. 22 April 2005. Retrieved 10 April 2016.
- ^ Melrose sells McKechnie Aerospace in $856m deal Reuters, 26 March 2007
- ^ a b "FKI accepts £480m bid from Melrose". FT. 22 April 2008. Retrieved 10 April 2016.
- ^ "Melrose sells Dynacast for $590m". Financial Times. Retrieved 30 March 2015.
- ^ "Melrose sells £70m turnover McKechnie". Insider Media. Retrieved 10 April 2016.
- ^ "Melrose to Acquire Elster for $2.3 Billion to Add Metering". Bloomberg L.P. 29 June 2012. Retrieved 26 June 2014.
- ^ "Melrose shares soar on £3.3bn sale of Elster to Honeywell". 28 July 2015. Retrieved 10 April 2016.
- ^ "Melrose Industries Plc". Companies House. Retrieved 6 January 2020.
Incorporated on 29 September 2015
- ^ a b "Melrose bets £2.2bn on US housing growth with Nortek takeover". The Telegraph. 6 July 2016. Retrieved 2 September 2016.
- ^ Michael Gubisch (29 March 2018). "Melrose wins shareholder support for GKN takeover". Flightglobal.
- ^ Robert Wall (March 29, 2018). "Melrose Industries Wins Bruising Takeover Battle for Britain's GKN". The Wall Street Journal. Retrieved May 1, 2018.
- ^ Phil Serafino, Benjamin D Katz (January 17, 2018). "Melrose Makes $10.2 Billion Hostile Offer to Acquire GKN". Bloomberg. Retrieved May 1, 2018.
- ^ "GKN takeover concerns to be assessed by government". BBC. 30 March 2018. Retrieved 3 April 2018.
- ^ a b "GKN takeover given green light". Reuters. 24 April 2018. Retrieved 24 April 2018.
Company websites
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