Doughty Hanson preparing HellermannTyton float - report

Sun Feb 24, 2013 3:35pm EST

Feb 24 (Reuters) - Private equity company Doughty Hanson is preparing to float manufacturing group HellermannTyton, Sky News reported on Sunday.

Doughty Hanson, which has owned HellermannTyton since 2005 when it bought the company for about 300 million pounds ($458 million), has hired Goldman Sachs and JPMorgan to work on the listing, Sky News said on its website.

London is a strong contender to host the flotation although Doughty Hanson is also expected to consider other locations, Sky News said.

Doughty Hanson's decision to list the company comes after the private equity group twice failed to sell the company, though a sale, rather than a floatation, was not impossible, Sky News reported.

Sky News said the value Doughty Hanson was seeking from a floatation of HellermannTyton, whose products include cable ties, fasteners and tubing, was unclear.

Doughty Hanson declined to comment. Goldman Sachs and JPMorgan could not be immediately reached for a comment.