Britain’s pensions lifeboat is to hoist a ‘on the market’ signal above Kodak Alaris, the photographic gear group it took management of as a part of a rescue of its retirement schemes.
Sky Information has learnt that the Pension Safety Fund (PPF) has kicked off talks with bankers about an public sale of the corporate behind the ‘Kodak moments’ made well-known by its multinational promoting campaigns.
The PPF, which is funded by way of a levy on corporations with outlined profit schemes, has owned Kodak Alaris since 2020, and has had an involvement in funds to its retirees since 2013.
The enterprise now contains the Kodak picture kiosks and movie division and Alaris, which makes doc scanners and software program.
It’s chaired by Christopher Howell, a turnaround veteran who represents the PPF’s pursuits.
Oliver Morley, the PPF chief government, additionally sits on the Kodak Alaris board.
The valuation of the corporate that the PPF is anticipated to hunt from an public sale was unclear on Friday.
In its accounts for the 12 months to March 31, 2022, it reported a 29% enhance in revenues to €130m, though the size of the rise was partly the results of its restoration from the COVID-19 pandemic.
The pensions lifeboat has change into a vital a part of Britain’s pensions panorama, and has performed necessary roles in company restructurings at corporations together with Sir Philip Inexperienced’s Arcadia Group and Tata Metal UK.
A PPF spokeswoman declined to touch upon the potential sale.