The auction of Axell Wireless is the first since Advent's controversial £4bn takeover of Cobham, Sky News learns.
Among the undertakings offered to the government by Advent, the US-based private equity firm, was that Whitehall would be informed if it planned to sell any of Cobham's assets.
It is not clear whether the proposed sale of Axell has triggered this requirement, given its focus on civilian rather than military applications. A Cobham spokesman said:"Axell Wireless specialises in civilian use wireless coverage solutions, which are not part of Cobham's core aerospace and defence business.
"It has been the subject of continuous restructuring over the past four years and, despite our best efforts, we have been unable to find a way forward for Axell Wireless within the Cobham group. "We have been contacted by a number of interested potential buyers in recent weeks and as a result we are now actively seeking a new owner to continue to support the business and have appointed an expert team to help us do so."Alvarez & Marsal, the professional services firm, has been appointed to handle the sale process.
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