19th Feb 2025 14:01
(Alliance News) - Rosebank Industries PLC on Wednesday said it is considering to buy Electrical Components International Inc, a US manufacturing business.
Rosebank is a London-based company seeking to buy businesses whose performance can be enhanced before being sold after three to five years. It said it is in talks with Cerberus Capital Management LP regarding a potential takeover of ECI, which provides electrical distribution systems to a range of industrial end markets.
Back in 2018, when Cerberus acquired ECI, it call ECI "the leading global manufacturer and marketer of wire harnesses and provider of value-added assembly services for the home appliance industry and is a leading provider of wire harnesses to a diverse range of end-markets." It was founded in 1953 and is based in St Louis, Missouri.
In line with AIM rules, Rosebank shares were suspended from trading around midday Wednesday in London. They had been down 2.6% to 740.00 pence just before the announcement and suspension. The company listed in London back in July at 434p.
Rosebank said it will make a further announcement as and when required.
By Tom Budszus, Alliance News slot editor
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