Response to Press Speculation

Summary by AI BETAClose X

Goodwin PLC has confirmed it is in advanced discussions for the potential sale of a substantial part of its Mechanical Engineering division, including Goodwin Steel Castings, Goodwin International, Noreva, Easat Group, and Pumps, to funds advised by Cerberus Capital Management, L.P. The proposed transaction involves a headline cash consideration of up to approximately £1.1 billion, subject to customary closing adjustments. While discussions are ongoing, there is no certainty that a transaction will be completed or on what terms.

Disclaimer*

Goodwin PLC
09 September 2026
 

THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR IMMEDIATE RELEASE

 

9 September 2026

 

 

Goodwin PLC ("Goodwin" or the "Company")

 

Response to Press Speculation

 

 

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.

 

Enquiries

 

Rothschild & Co

+44 20 7280 5000

Daniel Ross / Sabina Pennings

 

FTI Consulting

+44 20 3727 1000

Alex Le May / Nick Hasell / Alexander Davis

 

 

Additional information

 

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.

 

Inside Information

 

The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulation (EU) No. 596/2014 (as it forms part of domestic law by virtue of the European Union (Withdrawal) Act 2018). On the publication of this announcement via a Regulatory Information Service, this inside information is now considered to be in the public domain. The person responsible for releasing this announcement on behalf of Goodwin is Jenny Martin, Company Secretary.

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