Caledonia expands US industrial portfolio
Caledonia Investments, the FTSE 250 international investment trust, has bought a portfolio of five industrial businesses from US-based operating company Latshaw Enterprises.
Caledonia Investments, the FTSE 250 international investment trust, has bought a portfolio of five industrial businesses from US-based operating company Latshaw Enterprises.
The acquisition was made with Nova Capital Management, the specialist acquirer of corporate and private equity portfolios, and has seen Caledonia invest $42m in cash at completion.
The businesses acquired include a mechanical controls and components manufacturer for the lawn and garden sector, a plastic injection parts maker for the battery and heavy duty truck industries and a electronic cables specialist.
MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE

Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Duncan Johnson, the head of Caledonia's Unquoted pool, said on Monday morning: "The underlying businesses of Latshaw Enterprises are each established manufacturing operations enjoying strong positions in attractive markets.The businesses are cash generative and our investment has been structured so as to provide a running yield from year one.
"Along with Nova and the Latshaw team we have developed an investment strategy which will see capital value being built and realised over the medium term," he said.
This portfolio acquisition is the third that the company has funded with Nova. Johnson said: "Following the success of the first two investments, we are delighted to be working with the Nova team once again."
Get the latest financial news, insights and expert analysis from our award-winning MoneyWeek team, to help you understand what really matters when it comes to your finances.
MoneyWeek is written by a team of experienced and award-winning journalists, plus expert columnists. As well as daily digital news and features, MoneyWeek also publishes a weekly magazine, covering investing and personal finance. From share tips, pensions, gold to practical investment tips - we provide a round-up to help you make money and keep it.
-
What is the 25x retirement rule and does it work?
The 25x retirement rule has been around for decades but many experts question if it is a suitable strategy
-
When is the self-assessment tax return deadline?
If you are self-employed, rent out a property or earn income from savings or investments, you may need to complete a self-assessment tax return. We run through the deadlines you need to know about