UK private equity firm Doughty Hanson is understood to have more than doubled its money by floating a stake in portfolio company HellermannTyton – a deal which marks the third successful financial sponsor-backed IPO in London in under a week.

The Luxembourg-based company, which makes cable ties primarily used in the electrical and automotive industries, priced its IPO at 195p per share, valuing the business at about £420m, this morning. A person familiar with the situation said this was towards the low end of a 190p to 235p range.