Essential reading for retailers and suppliers in the home improvement market

Laird Group waits for shareholder approval

Published: 5 April 2007
D-day approaches for security division
Electronics and security company Laird Group is waiting for shareholder approval after it agreed in late March to dispose of its home security division to Lupus Captial for £242m.

Shareholders are due to meet on April 18. Laird said it will return £100m to shareholders as part of the sale.

In 2006 Laird Security Systems, which includes the Era brand, made operating profits of £27.8m, but the parent company has decided to sell it to concentrate on its electronics and technology division.

Lupus Capital is an investment group with a strategy of acquiring companies operating in 'industrial manufacturing, processes or services' such as Schlegel Building Products, the makers of seals for windows and doors. It is hoped the companies within Lupus will open new channels for Era.

Peter Hill, chief executive of Laird, said the sale of the security systems business was the 'end of the beginning' for his company.

Greg Hutchings, executive chairman of Lupus Capital described the deal as a 'significant step in creating a successful growing international business'.

Comments


(Your email address will not be published)
Already Registered?
Sign In
Not Yet Registered?
Register
Printable View E-mail Bookmark
*

Latest reader comments

re: Carl Kammerling Fusion 2021 Trade Promotion – Filled with exciting new deals!

MIKE
GOOD AFTERNOON,WE USED TO DEAL WITH YOUR COMPANY MANY YEARS AGO, BUYING LARGE STOCKS OF DELETED AND RETURNS ITEMS.IF YOU HAVE ANY CLEARANCE ...

re: Toolbank

Bilal Ali
Hi Trust you are doing great. My name is Bilal Ali. I am the owner of Azaan International Ltd, a company specialized in products. We are ...

re: Woolworths staff reunited by new website

John Zullo
Hi I'm trying to find Lisa assistant manager of woolworths in the metro centre 1999 I only now her by her 1st and middle name Lisa Marie ...

re: Planning application submitted for new Homebase store in Abingdon

Gel
They closed their store last year!http://www.oxfordmail.co.uk/news/17570442.homebase-abingdon-starts-closing-sale/...

re: Latest update on Green Homes Grant and implications for homeowners and landlords

John Hart
After applying for a green homes how long will it take for a decision? thanks...

Most read stories