dubai plots sale of uk engineer doncasters - led signs for sale

One of Britain's state-of-the-art privately owned engineering groups is about to sell after more than eight years of acquisition by Dubai's ruling family.
Sky News learned that investment bankers will be appointed in the coming weeks to advise on the sale of Burton's Doncastersupon-Trent-
A company that manufactures precision components for aircraft engines and industrial gas turbines.
Founded in Sheffield, Doncasters has roots dating back to 1778 and specializes in the processing of hard-to-form metals and alloys and calculates Boeing and Rolls-Royce-
Royce is one of its main customers.
Dubai International Capital (DIC)
The UAE has been ambitious to become one of the world's most prolific private equity investors since 2006.
The price tag DIC will put on Doncasters is not clear, but bankers say it may be worth far more than 1.
They added that the current owner has appointed consultants to handle due diligence from suppliers in the sales process.
Other private equity firms are expected to show significant interest in acquiring the business.
According to accounts published on its website, Doncasters made less than £ 135 in profit before interest, taxes, depreciation and amortization last year, up nearly 15% from 2012.
It describes the results as showing "good progress" and says it expects further growth in 2014 as "continuing to focus on cost reduction and productivity --
Led improvement ".
It is expected that a few months later, Doncasters's auction will take place after the sale of another DIC European investment Mauser to Clayton Dubilier & Rice earlier this year.
The DIC is part of the Dubai Holding Company, which is one of the groups owned by Sheikh Mohammed bin Rashid Al Maktum. The Dubai-
The initial signs of pressure on global financial markets came as US-based groups acquired their European portfolio.
Dubai was forced to default on its sovereign debt in 2009 due to a slump in asset prices, but has since successfully restructured its borrowing.
The United Arab Emirates is recovering from the financial crisis, a large number of construction projects are recovering, and the International Bank is recovering from
The crisis has been low in recent years.
Doncasters refinance its borrowing costs last year.
DIC had considered a joint auction of German aluminum manufacturers Mauser, Doncasters and Almatis, but chose to sell them separately.
Among DIC's other troubled investments, including UK hotel operator Travelodge, the company lost control of the company after excessive balance sheet tension.
DIC couldn't be reached for comment, while Doncasters declined to comment.