Rosebank Industries PLC has circled back with stunning resolve, announcing Monday it has struck a deal to acquire Electrical Components International Inc. (ECI) for “less than $1.9 billion” from private equity giant Cerberus Capital Management — months after dramatically walking away from the same transaction.
This acquisition marks a bold first move for Rosebank since its public listing in July on the junior market of the London Stock Exchange. The company, headquartered in Jersey, Channel Islands, is stepping into the industrial spotlight with a headline-making comeback that feels straight out of a corporate thriller.
From Cold Feet to Hot Pursuit
What once seemed like a shuttered chapter has been rewritten. Back in March, Rosebank abruptly exited initial discussions to acquire ECI, citing “recent market volatility” — a move that shocked stakeholders and had analysts questioning the firm’s appetite for risk.
But now, the plot has thickened.
The company revealed it plans to finance this acquisition through a high-stakes cocktail of equity and debt. Up to £1.2 billion ($1.6 billion) is expected to be raised by offering shares at £3 apiece. The remaining funds will be covered through an additional equity raise and fresh debt facilities.
“The company is currently in discussions with shareholders in respect of the fund raise and would expect to conclude shortly,” Rosebank said, with all existing shareholders — and perhaps some fresh-faced investors — invited to the table.
