The Morgan Crucible Company has agreed to sell its Magnetics division to One Equity Partners for £225 million.
Warren Knowlton, Chief Executive Officer of Morgan, said that the sale of the Magnetics division would also reduce the company’s pension and employee benefit liabilities by around £75 million.
Completion of the transaction, which is subject among other things to shareholder approval and clearance from the competition authorities in
The sale price represents a multiple of 1.7x sales and 21.1x EBITA for the year ended
Morgan was founded in 1856 and is based in