New company: Simon Peckham
The founder of aerospace technology group Melrose Industries is set to list a new company on the London junior stock market.
Former boss Simon Peckham is leading plans to launch Rosebank Industries in the AIM submarket for smaller businesses. And there are talks to raise more than £40m from institutional investors.
The company will echo Melrose’s “buy, improve, sell” model and will also focus on acquiring UK-based industrial companies. And after purchasing its first target, it will move to the main London market.
It could be the first company to go public in the City under the next government after the July 4 General Election.
Melrose came under fire after its £8bn hostile takeover of aerospace stalwart GKN, which led to hundreds of job losses.
Peckham, who left Melrose after two decades in March, said its takeover had created a British “aerospace champion” and revitalized a “declining British industrial icon”.
Earlier this year, Peckham warned that the London stock market was “in danger of becoming business as usual”.
electoral money
