Melrose Industries

Melrose Industries plc
Public limited company
Traded as LSE: MRO
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 (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

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. 1 2 3 "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. 1 2 "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. 1 2 "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. 1 2 "GKN takeover given green light". Reuters. 24 April 2018. Retrieved 24 April 2018.

Company websites


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