STOCKS | Goodwin Enters Advanced Talks to Sell Mechanical Engineering Assets for Up to £1.1 Billion

According to Sina Finance, British engineering group Goodwin said on September 9 that it is in advanced-stage talks with funds under Cerberus Capital Management over the sale of most of its mechanical engineering division assets. The proposed deal covers Goodwin Steel Castings, Goodwin International, Noreva, Easat Group, and its pump business. Goodwin said the initial cash consideration could be as much as £1.1 billion, subject to customary closing adjustments, and that no final agreement has been signed. The company said the talks followed a strategic review launched on August 7. Goodwin also said Rothschild & Co is acting as its financial adviser. Goodwin said its mechanical engineering business supplies high-tech metals, composites, and electronic products to defense, surveillance, aerospace, mining, oil and gas, water, and power industries. For the financial year ended April 2026, Goodwin reported revenue of about £280 million and trading profit of about £77.5 million, up about 27% and 118% year on year, respectively. Cerberus was founded in 1992 and manages about $70 billion in assets. Goodwin said the firm has relevant industry experience, while Cerberus had not issued an independent statement on the talks on its website. If a deal is reached, the transaction would still require regulatory approvals in the United Kingdom and other relevant jurisdictions because it involves defense and surveillance system supply chains.