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

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By Sam Kerr
24 Sep 2020

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 ...

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