LONDON: Rosebank Industries PLC said Monday it has resumed discussions with Cerberus Capital Management LP about a potential acquisition of Electrical Components International Inc. for less than $1.9 billion.
ECI, a U.S.-based manufacturer of electrical distribution systems, serves a range of industrial markets. The deal, if finalized, would align with Rosebank’s acquisition strategy and be funded through a mix of equity and debt.
The company plans to raise up to £1.2 billion ($1.5 billion) by issuing new shares at £3 each, alongside new debt facilities. Shareholders and potential investors will have the opportunity to participate in the fundraising, which Rosebank expects to finalize soon.
The proposed transaction remains subject to due diligence, regulatory approvals and shareholder consent. Rosebank would also need to publish an admission document for its re-listing on London’s AIM market.
Founded in 1953, ECI employs 25,000 people across 40 global manufacturing sites and supplies electrical components to more than 500 customers. The company specializes in wire harnesses, control boxes and engineered solutions for industries including automotive, aerospace and energy.
Rosebank, a newly formed acquisition firm, targets businesses with strong fundamentals but room for operational improvement. Its leadership team has a history of driving investor returns through strategic turnarounds.
No further details were disclosed, and talks may not result in a finalized deal.