U.K. Plumbing Group John Guest Said to Explore $771 Million SaleKiel Porter
U.K. manufacturer John Guest Ltd. is carrying out a strategic review that may lead to a sale valuing it at as much as 500 million pounds ($771 million), two people with knowledge of the matter said.
The company is working with investment bank Rothschild to look at options including the sale of a minority or controlling stake, said the people, who asked not to be identified because the information is private. Private-equity firms have already expressed interest, they said.
John Guest, which was founded in 1961 and is controlled by the founder’s family, produces parts for use in the plumbing, heating and drinks-dispensing industries, according to its website.
The company made a pretax profit of 12.98 million pounds in 2013, up 33 percent from a year earlier on revenue of 109.8 million pounds, according to filings at the U.K.’s Companies House.
Representatives for John Guest and Rothschild declined to comment.
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