Diploma wins strong support for £194m M&A equity raising

Diploma, the UK maker of seals, wiring and healthcare equipment, got solid support from its shareholders and new investors as it raised £194m of equity on Wednesday to complete the acquisition of a US cable distributor.
Barclays and Numis were global coordinators on the 11m share deal, 10% of the company’s share capital.
The capital raising will partly fund Diploma's £357m acquisition of Windy City Wire and Cable (WCW), a US distributor of low voltage wire and cable. It expects to complete ...Already a subscriber? Login