The former bosses of corporate raider Melrose have struck their first deal under a new venture.
Rosebank Industries has completed a £1.5bn takeover of an American electronics manufacturer.
The purchase of Electrical Components International (ECI) from private equity group Cerberus Capital Management was approved by shareholders in July.
Aim-listed Rosebank immediately announced a restructuring plan including the closure of ECI’s head office in St Louis, Missouri.
Rosebank was set up by Melrose co-founders Simon Peckham and Christopher Miller last year.
Melrose is best known for its controversial takeover of engineer GKN.
New venture: Rosebank was set up by Melrose co-founders Simon Peckham (left) and Christopher Miller (right) last year
DIY INVESTING PLATFORMS
AJ Bell
AJ Bell
Easy investing and ready-made portfolios
Hargreaves Lansdown
Hargreaves Lansdown
Free fund dealing and investment ideas
interactive investor
interactive investor
Flat-fee investing from £4.99 per month
InvestEngine
InvestEngine
Account and trading fee-free ETF investing
Trading 212
Trading 212
Free share dealing and no account fee
Affiliate links: If you take out a product This is Money may earn a commission. These deals are chosen by our editorial team, as we think they are worth highlighting. This does not affect our editorial independence.
Compare the best investing account for you
#bosses #corporate #raider #Melrose #1.5bn #swoop #electronics #firm
