THORN Electrical Industries
Encyclopedia
Thorn Electrical Industries, Limited was an electrical engineering business. It was listed on the London Stock Exchange
but it merged with EMI Group to form Thorn EMI
in 1979. It demerged again in 1996 and became a constituent of the FTSE 100 Index
but was acquired by Nomura Group
just two years later.
and Alfred Deutsch in March 1928 as The Electric Lamp Service Company Ltd.. In 1932, Thorn began making light bulbs in Edmonton
, North London
. The company grew rapidly to become Thorn Lighting, one of the world’s largest producers of lamps, luminaires and lighting components. The name changed to Thorn Electrical Industries in November 1936. The company later began to diversify by buying Ferguson Radio Corporation in the late 50's and Ultra Radio & Television
in 1961.
In 1965, Thorn took over local firm Glover and Main
, gas appliance manufacturers.
Other notable brands within the Thorn group over the years have included Radio Rentals, DER and Rumbelows (TV rental), HMV (music), Tricity (cookers and fridges), Kenwood (food mixers), Thorn Kidde (fire protection) and Mazda (light bulbs).
In October 1979, Thorn merged with EMI
to form Thorn EMI
.
On 16 August 1996, Thorn EMI shareholders voted in favour of demerging Thorn again and the electronics and rentals divisions were divested as Thorn plc.
Thorn was acquired by Future Rentals, a subsidiary of Nomura Group
in 1998; it subsequently passed to Terra Firma Capital Partners
who set up the BrightHouse chain. The remainder of the company was sold to a private buyer in June 2007.
London Stock Exchange
The London Stock Exchange is a stock exchange located in the City of London within the United Kingdom. , the Exchange had a market capitalisation of US$3.7495 trillion, making it the fourth-largest stock exchange in the world by this measurement...
but it merged with EMI Group to form Thorn EMI
Thorn EMI
Thorn EMI was a major British company involved in consumer electronics, music, defence and retail. Created in October 1979 when Thorn Electrical Industries merged with EMI, it was listed on the London Stock Exchange and was once a constituent of the FTSE 100 Index but it demerged again in...
in 1979. It demerged again in 1996 and became a constituent of the FTSE 100 Index
FTSE 100 Index
The FTSE 100 Index, also called FTSE 100, FTSE, or, informally, the footsie , is a share index of the 100 most highly capitalised UK companies listed on the London Stock Exchange....
but was acquired by Nomura Group
Nomura Group
The formerly Nomura zaibatsu is a company headquartered in Chuo, Tokyo.Nomura is one of the major industrial and financial conglomerate groupings of Japan. Osaka Nomura bank was founded by Tokushichi Nomura II in 1919 after many successful business ventures; it was established on the Mitsui...
just two years later.
History
The Company was founded by Jules ThornJules Thorn
Sir Jules Thorn was the founder of Thorn Electrical Industries, one of the United Kingdom's largest electrical businesses.-Career:...
and Alfred Deutsch in March 1928 as The Electric Lamp Service Company Ltd.. In 1932, Thorn began making light bulbs in Edmonton
Edmonton, London
Edmonton is an area in the east of the London Borough of Enfield, England, north-north-east of Charing Cross. It has a long history as a settlement distinct from Enfield.-Location:...
, North London
North London
North London is the northern part of London, England. It is an imprecise description and the area it covers is defined differently for a range of purposes. Common to these definitions is that it includes districts located north of the River Thames and is used in comparison with South...
. The company grew rapidly to become Thorn Lighting, one of the world’s largest producers of lamps, luminaires and lighting components. The name changed to Thorn Electrical Industries in November 1936. The company later began to diversify by buying Ferguson Radio Corporation in the late 50's and Ultra Radio & Television
Ultra Electronics
Ultra Electronics Holdings is a British company serving the defence, security, transport and energy industries. It is listed on the London Stock Exchange and is a constituent of the FTSE 250 Index.-History:...
in 1961.
In 1965, Thorn took over local firm Glover and Main
Glover and Main
Glover and Main was a British manufacturer of gas meters and stoves, located at Angel Road, Edmonton, London.-History:T.Glover & Co manufactured Gas Meters at the Gothic Works from 1897. Thomas Glover invented the original diaphragm gas meter in 1843. The company later amalgamated with R&A Main...
, gas appliance manufacturers.
Other notable brands within the Thorn group over the years have included Radio Rentals, DER and Rumbelows (TV rental), HMV (music), Tricity (cookers and fridges), Kenwood (food mixers), Thorn Kidde (fire protection) and Mazda (light bulbs).
In October 1979, Thorn merged with EMI
EMI
The EMI Group, also known as EMI Music or simply EMI, is a multinational music company headquartered in London, United Kingdom. It is the fourth-largest business group and family of record labels in the recording industry and one of the "big four" record companies. EMI Group also has a major...
to form Thorn EMI
Thorn EMI
Thorn EMI was a major British company involved in consumer electronics, music, defence and retail. Created in October 1979 when Thorn Electrical Industries merged with EMI, it was listed on the London Stock Exchange and was once a constituent of the FTSE 100 Index but it demerged again in...
.
On 16 August 1996, Thorn EMI shareholders voted in favour of demerging Thorn again and the electronics and rentals divisions were divested as Thorn plc.
Thorn was acquired by Future Rentals, a subsidiary of Nomura Group
Nomura Group
The formerly Nomura zaibatsu is a company headquartered in Chuo, Tokyo.Nomura is one of the major industrial and financial conglomerate groupings of Japan. Osaka Nomura bank was founded by Tokushichi Nomura II in 1919 after many successful business ventures; it was established on the Mitsui...
in 1998; it subsequently passed to Terra Firma Capital Partners
Terra Firma Capital Partners
Terra Firma Capital Partners Ltd is a leading U.K.-based private equity firm, best known for its failed investment in British music company EMI. Financier Guy Hands founded the firm in 2002 through the spin-off of Nomura Principal Finance Group...
who set up the BrightHouse chain. The remainder of the company was sold to a private buyer in June 2007.