Shares in distribution company Umeco rose by 8 per cent today after reports that it was planning to sell the aerospace supplier Pattonair for over £200m.
Analysts say that such a disposal would transform Umeco’s balance sheet from a £70m net debt position to one with a healthy surplus.
Umeco is believed to have hired NM Rothschild to sell the Derby-based company. Pattonair Ltd recorded pre-tax profits of £2.1m in the year to 31 March 2010 on revenues of £33.6m.
Pattonair provides supply chain services to companies around the globe and includes Rolls-Royce, Boeing and BAE among its customers.
Umeco is believed to want to refocus on its core competencies of supplying composites to aerospace companies, supplying parts to marine, wind turbine and electrical industries and providing global vehicle distribution services.
Several parties are believed to have expressed an interest in the business, and one – Lloyds Development Capital – has already begun negotiations.
This is an exciting opportunity to acquire a thriving manufacturer renowned for its range of disinfectants and specialist biosecurity solutions across animal care and clean-room markets.
Represents an Essex based profitable pharmacy currently on the market seeking a genuine industry buyer.
Represents a south eastern based medical dispensary currently on the market seeking a diligent industry buyer.
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