Fenner to buy Wellington Holdings for £44.6 million

By Liz White, ERJ staff
London-Fenner plc is to expand its precision polymers business by buying Wellington Holdings plc’s seal-making business. Hull, UK-headquartered Fenner is offering 185 pence per Wellington share, in a deal which values Wellington at approximately £44.6 million (Euros 66 million).

Fenner, also a major player in the global conveyor belt business, intends to raise £54.1 million via a share placing which is will use to fund the purchase as well as allow for future growth and acquisitions.

Wellington, which makes polymer seals…

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