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LATEST NEWS & EVENTS Cable Management Group bought out by US electrical company  American electrical components maker Thomas and Betts Corporation have announced their management buy-out of Birmingham-based cable and electrical management company Cable Management Group (CMG) for the price of £70 million. CMG recently confirmed annual sales of approximately £28 million for the fiscal year ending July 31st, 2010. The Birmingham company specialises in manufacturing a wide range of metallic and non-metallic flexible conduit and fitting systems that are used to protect critical power and data systems from hazards such as fire, dust, moisture, vibration and corrosion. Dominic J Pileggi, chairman and chief executive officer of Thomas & Betts, said: "CMG is a growing and profitable business with market-leading brands, a solid international presence and an excellent financial profile." This news comes after the Financial Times reported last week that JPMorgan Chase appeared to be the favourite to complete a management buy-out by purchasing the remaining infrastructure of the Royal Bank of Scotland's Sempra Commodities. Posted by Gaby Hamerton 
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