Latest news with #MarkWilliamson
The Independent
02-07-2025
- Business
- The Independent
KKR clinches backing from Spectris for £4.1bn higher bid
Industrial group Spectris has agreed to a takeover by Kohlberg Kravis Roberts (KKR) worth more than £4 billion after the private equity giant muscled out rival bidder Advent International. Spectris has given its backing to the £40-a-share cash bid, which values the FTSE 250-listed firm at around £4.1 billion, or £4.7 billion including debts. It trumps the £37.63-a-share deal it had previously agreed with US investment firm Advent, which valued the firm at about £3.8 billion, seeing Spectris withdraw its recommendation for the Advent offer. The deal for Spectris marks the latest in a long line of London-listed firms set to leave the market after a recent flurry of firms defecting from the City for rival exchanges overseas or being bought out. Spectris – a maker of precision measurement instruments for firms such as those in the pharmaceutical and semiconductor sectors – is headquartered in London and employs about 7,400 people in more than 30 countries. It made underlying earnings of £203 million last year on sales of £1.3 billion. Mark Williamson, chairman of Spectris, said: 'This offer reflects the excellent work of the Spectris management team in recent years to transform Spectris into a focused, high quality, premium precision measurement business that is well positioned for the future. 'While we remain confident in the opportunities for the business, KKR's offer provides attractive and immediate cash value for shareholders and a compelling vision for the future of the group.' Joshua Weisenbeck, partner at KKR, added: 'Spectris is an impressive industrial technology business serving attractive end-markets such as life sciences, industrial automation, aerospace and defence, academia and more. 'We believe there is an excellent fit in terms of our respective values, with a strong focus on its talented employees and supporting communities in which it operates.' KKR first approached Spectris on June 2. It said it had no plans for large scale job cuts following the deal, saying it 'does not intend to make any material reduction to the headcount or any material change to the conditions of employment or to the balance of skills and functions of the Spectris Group's employees or management'. But it said this does not include measures under the ongoing overhaul by Spectris, under which it aims to make savings of at least £30 million in 2025, most of which will come in the final six months of the year.
Daily Mail
23-06-2025
- Business
- Daily Mail
Spectris accepts £3.8bn takeover offer from private equity group
Advent International is set to win the race to buy British scientific instruments maker Spectris after the two companies struck a £3.8billion takeover deal. The private equity firm has agreed to pay the FTSE 250 group's shareholders £37.63 per share in cash, including a 28p per share interim dividend, the pair said on Monday. Spectris told shareholders earlier this month it was 'minded to accept' a £3.7billion offer from Advent, which owns British defence giants Cobham and Ultra Electronics. But a few days later, it revealed it had rejected two rival proposals from New York-based investment firm Kohlberg Kravis Roberts (KKR). Advent said Spectris was 'well-placed to capitalise on future growth opportunities in its core end markets' following a major restructuring undertaken by the group since 2018. This has included raising £1.3billion of capital through selling eight businesses as part of a portfolio rationalisation and investing in its two divisions, Spectris Scientific and Spectris Dynamics. Mark Williamson, chairman of Spectris, said: 'The Spectris management team have transformed the Spectris Group into a leading, sustainable business with high-quality premium precision measurement solutions. 'The board remains confident in Spectris' strategy and the opportunities that will be delivered over the medium term, but believes that Advent's offer recognises the attractiveness of Spectris and represents strong and immediate cash value for shareholders.' Spectris produces high-tech instruments, test equipment and software for industrial applications, including oxygen sensors for ventilators, portable gas analysers, and particle measuring systems. It was originally founded as the Fairey Aviation Company in 1915 by Richard Fairey to manufacture seaplanes. The group was acquired by educational publisher Pearson in 1980, underwent a management buyout in 1987, and was listed on the London Stock Exchange the following year. It adopted its current name in 2001 after purchasing four instrumentation and process monitoring businesses belonging to the German firm Spectris. Should Advent eventually snap up Spectris, it would represent the biggest takeover of a London-listed company this year. The deal would also constitute another blow to the London markets, which have lost multiple major firms to foreign predators taking advantage of discounted valuations in recent years. High-profile deals have included Thoma Bravo's acquisition of cybersecurity specialist Darktrace, Carlsberg's purchase of Robinsons squash maker Britvic, and EP Group's takeover of Royal Mail's parent company, International Distribution Services. And just in the past two months, there have been takeover agreements for takeaway giant Deliveroo, Northern Irish software developer FD Technologies, chip designer Alphawave, and consultancy business Ricardo. KKR and Stonepeak Partners put forward multiple offers for Assura, but the NHS landlord informed investors on Monday that it had backed a rival £1.8billion proposal from Primary Health Properties. Russ Mould, investment director at AJ Bell, said: 'The fact we've got two bid battles in Spectris and Assura just goes to show how the UK stock market continues to be on sale. 'If investors don't recognise the good value opportunities on offer, trade buyers or private equity firms will keep swooping on targets and pick them off one by one.'
Extra.ie
29-05-2025
- Entertainment
- Extra.ie
Inside spectacular Killiney home with pool and tennis court on market for huge sum
Looking like something out of the Disney+ series Rivals, this incredible home in St George's Avenue, Killiney, has hit the market for an outstanding sum. Built in 1871, Kenah Hill stands on an elevated site that sits atop 2.8 acres of mature, manicured grounds and offers panoramic views from Killiney Bay to Bray Head. And we haven't even turned the keys to enter the house yet. The sweeping driveway leads to the property, which is spread across 929 sq m and three floors of generously proportioned rooms, soaring ceilings and ornate cornicing. A double-height entrance hall boasts a monochrome marble floor and a cantilever sweeping staircase. Pic: Sherry Fitzgerald The morning room boasts a superb reception with a bay window and extra height ceilings, while the drawing room leads into the drawing room that boasts an incredible double bay window, Versailles parquet floor and a marble fireplace with a gas fire. The double bay windows boast incredible panoramic sea views. Pic: Sherry Fitzgerald The dining room boasts attractive parquet flooring and a feature fireplace with a coal effect gas fire, while the kitchen is bespoke and fitted by Mark Williamson with Silestone counter tops. An integrated American fridge freezer and a large island unit complete the kitchen, while three French doors lead to the impeccable terrace. Pic: Sherry Fitzgerald Heading up to the first floor are six of the home's seven bedrooms, with the master bedroom being double fronted with a bay window enjoying commanding views that overlook the grounds and out toward the bay. The en-suite bathroom boasts incredible his and hers sinks and vanity units, while a large walk-in wardrobe completes the suite. Pic: Sherry Fitzgerald The home doesn't stop there, however — heading down to the garden level, the home has a wine cellar and storage room, along with a galley kitchen, the seventh bedroom which is en-suite and a large playroom. Self contained guest quarters are just nearby at garden level, which is one bedroom, en-suite and a living room. Pic: Sherry Fitzgerald As well as the home itself, the home has impeccable grounds — with recreational amenities including an all-weather tennis court, and an indoor swimming pool. The pool pavilion is a highlight of the home, being encased in a glass solarium allowing for you to go for a swim in all weather, as well a bar area. Pic: Sherry Fitzgerald Kenah Hill, St George's Avenue, Killiney, Dublin is available via Sherry Fitzgerald, with a price tag of a whopping €10.75million. More photos of this spectacular home can be found below Pic: Sherry Fitzgerald Pic: Sherry Fitzgerald Pic: Sherry Fitzgerald Pic: Sherry Fitzgerald Pic: Sherry Fitzgerald Pic: Sherry Fitzgerald Pic: Sherry Fitzgerald Pic: Sherry Fitzgerald Pic: Sherry Fitzgerald Pic: Sherry Fitzgerald Pic: Sherry Fitzgerald
Yahoo
20-03-2025
- Politics
- Yahoo
Feeling bummed? You're not alone, as the U.S. drops to a record low in happiness index
Comparison may be the thief of joy, but not if you're from Finland. Despite sharing a border with an at-war Russia and receiving limited winter sunlight, the Nordic nation has been ranked the world's happiest country for the eighth year in a row. Americans, meanwhile, seem to get more unhappy with each passing year. That's according to the 2025 World Happiness Report, published Thursday, which ranks over 140 countries and regions based on residents' self-assessments. The survey was conducted by the University of Oxford in partnership with analytics firm Gallup and the United Nations. In the rankings of happiness haves and have-nots, the U.S. dropped to its lowest ever spot at No. 24, continuing its decline from a peak of the 11th place over a decade ago. The report described political polarization as a result of growing despair among Americans. 'The decline in life satisfaction explains the overall rise in anti-system votes but trust in others then comes into play,' the report said, with 'unhappy people attracted by the extremes of the political spectrum.' As for what has caused the downward spiral in the U.S., 'on-going challenges around cost of living, economic uncertainty and political polarization may have played a role,' said Mark Williamson, CEO of the U.K.-based nonprofit Action for Happiness. 'We have also observed a significant increase in anxiety in the population.' Finland's Nordic neighbors continued to dominate the top of the rankings, with Denmark, Iceland and Sweden making up the rest of the top four, just as they did last year. In contrast, the world's unhappiest country was once again Afghanistan, where the Taliban continues to make life 'especially difficult' for women and girls, limiting their access to education and employment. Sierra Leone, a country in West Africa plagued by significant human rights violations, was the second least happy country, while Lebanon ranked third from the bottom, with its past year marked by an ongoing economic crisis and war between Hezbollah — the Iran-backed militia based in the country — and Israel. Despite GDP per capita in the U.S. and Western Europe having continually risen since the mid-2000s, a drop in the happiness of Western democracies 'could be blamed on the feelings of financial insecurity and loneliness experienced by Americans and Europeans — two symptoms of a damaged social fabric,' the report said. Declining social trust explains a 'large share' of the rise in political polarization and anti-system votes exemplified by the election of President Donald Trump in the U.S. and Brexit in Britain. The U.K., for instance, came in 20th, marking its lowest reading since 2017. In a sign of growing loneliness, more Americans are dining solo. About 1 in 4 reported that they ate all their meals alone the previous day — a 53% increase since 2003. In the U.S., young adults reported the lowest happiness and social connection of all age groups, researchers said, with loneliness among young people rising globally as well. In 2023, almost 1 in 5 young adults reported having no one for social support. But the report does include some suggestions about how to promote a more contended society: try having more faith in other people and being nicer to them. The study found that strangers are actually twice as kind as people expect, with the frequency with which people's lost wallets were returned to them double the rate at which those surveyed thought. 'The most heart-warming and important finding from this report is that people are much kinder than we think they are,' Williamson said. 'Kindness ripples outwards and our expectations about kindness matter.' This article was originally published on
NBC News
20-03-2025
- Politics
- NBC News
Feeling bummed? You're not alone, as the U.S. drops to a record low in the World Happiness Index
Comparison may be the thief of joy, but not if you're from Finland. Despite sharing a border with an at-war Russia and receiving limited winter sunlight, the Scandinavian country has been ranked the world's happiest country for the eighth year in a row. Americans, meanwhile, seem to get more unhappy with each passing year. That's according to the World Happiness Report 2025 published Thursday, which ranks over 140 countries and regions based on residents' self-assessments. The survey was conducted by the University of Oxford in partnership with analytics firm Gallup and the United Nations. In the rankings of happiness haves and have-nots, the U.S. dropped to its lowest ever spot at No. 24, continuing its decline from a peak of the 11th place over a decade ago. The report described political polarization as a result of growing despair among Americans. 'The decline in life satisfaction explains the overall rise in anti-system votes but trust in others then comes into play,' the report said, with 'unhappy people attracted by the extremes of the political spectrum.' As for what has caused the downward spiral in the U.S., 'on-going challenges around cost of living, economic uncertainty and political polarization may have played a role,' said Mark Williamson, CEO of the U.K.-based nonprofit Action for Happiness. 'We have also observed a significant increase in anxiety in the population.' Finland's Nordic neighbors continued to dominate the top of the rankings, with Denmark, Iceland, and Sweden making up the rest of the top four, just as they did last year. In contrast, Afghanistan was once again the world's unhappiest country where the Taliban continues to make life 'especially difficult' for women and girls, limiting their access to education and employment. Sierra Leone, a country in West Africa plagued by significant human rights violations, was the second least happy country, while Lebanon ranked third from the bottom with its past year marked by an ongoing economic crisis and war between Hezbollah — the Iran-backed militia based in the country — and Israel. Despite GDP per capita in the U.S. and Western Europe having continually risen since the mid-2000s, a drop in the happiness of western democracies 'could be blamed on the feelings of financial insecurity and loneliness experienced by Americans and Europeans — two symptoms of a damaged social fabric,' the report said. Declining social trust explains a 'large share' of the rise in political polarization and anti-system votes exemplified by the election of Trump and Brexit. The U.K., for instance, came in 20th, marking its lowest reading since 2017. In a sign of growing loneliness, more Americans are dining solo. About 1 in 4 reported that they ate all their meals alone the previous day — a 53% increase since 2003. Young U.S. adults reported the lowest happiness and social connection of all age groups, researchers said, with loneliness among young people rising globally. In 2023, almost one in five of young adults reported having no one for social support. But the report does include some suggestions about how to promote a more contended society: try having more faith in other people and being nicer to them. The study found that strangers are actually twice as kind as people expect, with the frequency with which people's lost wallets were returned to them double the rate at which those surveyed thought. 'The most heart-warming and important finding from this report is that people are much kinder than we think they are,' said Williamson. 'Kindness ripples outwards and our expectations about kindness matter.'
