Founder of aerospace technology group Melrose Industries wants to list a new company on London’s junior stock market
New venture: Simon Peckham
The founder of aerospace technology group Melrose Industries is about to list a new company on London’s junior stock market.
Former boss Simon Peckham is leading plans to launch Rosebank Industries into the AIM submarket for smaller companies. And there are talks to raise more than £40m from institutional investors.
The company will replicate Melrose’s ‘buy, improve, sell’ model and also focus on acquiring industrial businesses in the UK. And after it buys its first target, it will move into the main London market.
It could be the first company to go public in the city under the next government after the July 4 general election.
Melrose has faced criticism following its £8 billion hostile takeover of aerospace company GKN, which resulted in hundreds of job losses.
Peckham, who left Melrose last March after 20 years, claims his takeover has created a British “aerospace champion” and revived a “fading British industrial icon”.
Earlier this year, Peckham warned that London’s stock market was ‘in danger of becoming ordinary’.