Melrose Industries

Melrose Industries plc
Public (LSE: MRO)
Industry Finance
Founded 2003
Headquarters London, UK
Key people
 Christopher Miller, Chairman
Simon Peckham, CEO
Revenue £261.1 million (2015)[1]
£4.8 million (2015)[1]
£(16.3) million (2015)[1]
Website www.melroseplc.net

Melrose Industries plc (LSE: MRO) is a British-based investment company specialising in the acquisition and performance improvement of underperforming businesses. It is based in London and is listed on the London Stock Exchange.

History

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

The business was established in 2003. It was first listed on the Alternative Investment Market in the same year and moved to the main market in 2005. In 2005 it acquired Dynacast, a manufacturer of diecast parts and components, and McKechnie, an engineering group,[2] and in 2007 it sold McKechnie Aerospace and McKechnie PSM for $855m.[3] In 2008 it acquired FKI, another engineering business[4] and, in 2011, Dynacast was sold.[5] McKechnie Plastic Components was sold in June 2012[6] and Elster, a metering business, was acquired in August 2012.[7] In July 2015 it sold Elster to Honeywell.[8] It went on to buy Nortek, a ventilation equipment manufacturer, for £2.2 billion in September 2016.[9]

Constituents

The Group's principal subsidiary is Brush Turbogenerators, an engineering business which was acquired as part of FKI.[4]

References

  1. 1 2 3 "Annual Report 2015" (PDF). Melrose Industries. Retrieved 10 April 2016.
  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. 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. ↑ "Melrose bets £2.2bn on US housing growth with Nortek takeover". The Telegraph. 6 July 2016. Retrieved 2 September 2016.

Company websites


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