Track Record

History

  • 2018
  • 2016
  • 2015
  • 2014
  • 2013
  • 2012
  • 2011
  • 2009
  • 2008
  • 2007
  • 2005
  • 2003
2018
April
Melrose acquired GKN Plc, a UK publicly listed FTSE100 company, for £8 billion.
2016
August
Completed the acquisition of Nortek for £2.2 billion with a fully underwritten £1.6 billion Rights Issue and £0.6 million of debt.
February
A sum of £2.4 billion was returned to shareholders in February 2016
2015
March
A sum of £200 million was returned to shareholders in March 2015
2012
August
Completed the acquisition of Elster Group SE for £1.8 billion. Fully underwritten £1.2 billion Rights Issue and new £1.5 billion 5 year bank facility
2009
June
Sold Logistex (excluding UK) for £50 million
2008
July
Completed the acquisition of FKI plc for a total consideration including debt, of just under £1 billion
2007
August
Shareholders received a capital return of £220 million
June
Sold the McKechnie Aerospace business for £428 million and the PSM business for £30 million, doubling the shareholder value in 18 months
2005
December
Moved onto Londonā€™s main exchange. Entered the FTSE 250.
May
Acquired McKechnie and Dynacast for £429 million from private equity group Cinven. Raised £230 million in equity
2003
October
Listed on AIM - £13 million

Outputs

Shareholder investment and gain

Reinvestment

Ā 

How has Melrose created value?

McKechnie/Dynacast

McKechnie/Dynacast

  • Bought for
    Ā£0.4bn
  • Sold for
    Ā£0.8bn
  • Investment in business
    51%
  • Equity rate of return
    30%
  • Shareholder return on original equity
    3.0x
  • Sales growth
  • Margin growth
  • Cash generation
  • Multiple expansion

FKI

FKI

  • Bought for
    Ā£1.0bn
  • Sold for
    Ā£1.4bn1
  • Investment in business
    78%
  • Equity rate of return
    29%
  • Shareholder return on original equity
    2.6x

(1) Includes estimated value of business not yet sold.

  • Margin growth
  • Cash generation
  • Multiple expansion

Elster

Elster

  • Bought for
    Ā£1.8bn
  • Sold for
    Ā£3.3bn
  • Investment in business
    25%
  • Equity rate of return
    33%
  • Shareholder return on original equity
    2.3x
  • Sales growth
  • Margin growth
  • Cash generation
  • Multiple expansion

Responsible approach to investing

Whilst under Melrose ownership, we improve contributions and provide better security to our businessesā€™ pension schemes towards fully funded upon departure from the Group.

Responsible Stewardship A 2020

Substantial improvements for all UK pensions schemes under ownership.

Responsible Stewardship B 2020

Adjusted operating margin improvement

Total shareholder returns (TSR)(1)(2)

Total Shareholder 2020

(1) Since Melroseā€™s first acquisition (May 2005).
(2) Source: Datastream Total Shareholder Return Index
(3) Nortek adjusted operating margin up to 31 December 2020.

How Elster and Nortek operating margin improved(3)

Track Record 2020
  • Returns on capexĀ and restructuring and other commercial actions
  • Central cost savingsĀ 
  • Exit of low margin sales channelsĀ