The industrial producer headed by Nat Rothschild, the outstanding financier, is to faucet shareholders in a money name to fund its largest acquisition up to now.

Sky News has learnt that Volex, which is listed on the London Stock Exchange, will announce on Thursday that it has struck a roughly-$175m (£137m) deal to purchase Murat Ticaret, a Turkish producer of advanced wire harnesses.

The deal might be funded partially by a share sale that can search to lift about £55m, and is anticipated to be introduced alongside the outcomes.

The money name will comprise a putting and retail providing to shareholders, one investor prompt on Wednesday night.

If accomplished, it's going to mark an additional transformational step for Volex, whose worth has soared since Mr Rothschild got here to the helm in 2015 after a short spell as a non-executive director.

Murat Ticaret is headquartered in Turkey and has vital international publicity to the off-highway manufacturing market in sectors resembling agricultural and building equipment, in addition to business automobiles.

It serves prospects together with JCB, Bobcat and John Deere, supplying them with specifically designed methods to maintain myriad wires or cables organized inside a machine.

An individual conversant in Volex mentioned it might be the corporate's eleventh acquisition since 2019, describing the Turkish deal as "transformational" by growing its scale considerably and giving it entry to a brand new market past the electrical automobiles, shopper electricals, medical and complicated industrials sectors.

The deal would additionally symbolize a major step ahead in attaining Volex's five-year plan, introduced by govt chairman Mr Rothschild final 12 months, during which the group mentioned it might ship $1.2bn (£939m) in income by the top of its 2027 monetary 12 months.

Analysts mentioned that Murat Ticaret's 2022 gross sales of $170m (£133m) mixed with Volex's annual revenues - disclosed in April - of a minimum of $710m (£556m) would imply it was clearly on monitor to attain its aims.

Volex now employs 8,000 folks in 22 international locations, and is among the many largest corporations by market worth on London's junior AIM inventory market.

At Wednesday's closing share value of 286p, it had a market capitalisation of about £450m.

Mr Rothschild turned a outstanding and at instances controversial determine within the City after he floated two automobiles which went on to amass abroad pure sources corporations.

Under his stewardship, shares in Volex have multiplied greater than threefold, with working earnings up greater than sevenfold.

The share sale is being dealt with by HSBC and Peel Hunt, the funding banks, in keeping with one supply.

A Volex spokesman declined to touch upon Wednesday.