In a statement on Wednesday, Europe-focused buyout firm Doughty Hanson said it sold 20.9% of its stake in HellermannTyton Group Plc. The stake sale had fetched GBP119 million or USD191.21 million. The cable equipment maker sold 45 million shares at a share price of 265 pence or GBP2.65.

Doughty Hanson had bought HellermannTyton back in 2006. It holds 46.6 million shares, which is 21.6% of the company, after the stake sale placement Wednesday. Goldman Sachs and Morgan Stanley, who had been signed on as joint bookrunners for the transaction, had waived Doughty Hanson's Initial Public Offering lock up. An IPO lockup is defined by Investopedia as a contractual caveat wherein company insiders or major shareholders are forbidden to sell their shares after an IPO. The IPO lockup was to expire on September 29. Numis Securites went on board as the lead manager for the placement.

The company, who manufactures devices that fixes, fastens, protects and identifies cables, had closed at a share price of 282 pence or GBP2.82 on the London bourse Wednesday. Its shares had risen 45% since the company listed back in March.