Goodwin PLC has confirmed it is in advanced discussions to sell a substantial part of its Mechanical Engineering division, following recent press speculation about the potential deal.
In a statement issued in response to media reports, the Board of Goodwin said it was in talks with funds advised by Cerberus Capital Management, L.P. over the sale for a headline cash consideration of up to approximately £1.1 billion, subject to customary closing adjustments.
The businesses under discussion include Goodwin Steel Castings, Goodwin International, Noreva, Easat Group and Pumps, which together form a significant portion of the Mechanical Engineering division. The Board described Cerberus as an investor with significant relevant industry experience.
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The update follows a strategic review announced by Goodwin on 7 August 2026, which the company said this latest disclosure builds upon. Goodwin stressed that while discussions are ongoing, there is no certainty that a transaction will ultimately be agreed, nor clarity yet on the final terms should a deal proceed.
The company said it would issue a further announcement when appropriate, indicating that more details, including confirmation of whether a binding agreement is reached, are expected in due course.
Goodwin is a UK-based engineering and manufacturing group with operations spanning mechanical engineering, refractory engineering and other industrial segments. Shares in the company may react to the scale of the potential disposal, given the size of the consideration relative to the group’s operations.
Investors are advised to await further updates before drawing conclusions on the transaction’s likely outcome or its financial impact on Goodwin.
