Melrose mulling sale of lifting divisions

3rd Jun 2013 07:05

Manufacturing investment firm Melrose is eyeing a potential disposal of its lifting equipment divisions, Crosby and Acco, the company announced on Monday morning.Confirming media speculation over the weekend, Melrose said that it is in the very early stages of considering a possible sale of the units as part of its "established business model to buy good manufacturing businesses, improve their performance and realise value, often within a three- to five-year time frame."Crosby, which was acquired as part of the large acquisition of British engineering firm FKI in 2008, is involved in the design, manufacture and sale of lifting fittings and blocks to the oil & gas, construction and mining sectors.Meanwhile, Acco works in the material handling equipment industries, making things like cranes, monorails, hoists and trailers.Melrose, which has appointed JPMorgan Cazenove to assist in the process, said that there can be no certainty that the review will lead to a sale.