Response to Press Speculation
Goodwin confirms advanced discussions to sell substantial Mechanical Engineering division to Cerberus for approximately £1.1 billion.
- Headline cash consideration approximately £1.1 billion
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The Board of Goodwin notes the further press speculation regarding the potential sale of parts of the Mechanical Engineering division and accordingly is providing an update on the strategic review announced on 7 August 2026.
The Board of Goodwin confirms that it is in advanced discussions regarding the potential sale of a substantial part of the Mechanical Engineering division, which includes Goodwin Steel Castings, Goodwin International, Noreva, Easat Group and Pumps, to funds advised by Cerberus Capital Management, L.P., an investor with significant relevant industry experience, for a headline cash consideration of up to approximately £1.1 billion (subject to customary closing adjustments).
Discussions are ongoing and there can be no certainty that a transaction will be entered into, nor as to its terms. A further announcement will be made as and when appropriate.
N.M. Rothschild & Sons Limited ("Rothschild & Co") is authorised and regulated by the Financial Conduct Authority in the United Kingdom. Rothschild & Co is acting for Goodwin in relation to the matters described in this announcement and no one else in connection with the matters set out in this announcement and will not regard any other person as its client in relation to the matters set out in this announcement and will not be responsible to anyone other than Goodwin for providing the protections afforded to clients of Rothschild & Co or its affiliates, or for providing advice in relation to the contents of this announcement or any other matter referred to herein.
Cleaned text: letterheads, contacts and legal notices removed. View the original announcement ↗ · Company filings. Not investment advice.