Cerberus agrees to buy Goodwin engineering businesses

Cerberus agreed to acquire selected mechanical engineering businesses from Goodwin plc for headline cash consideration of up to approximately £1.1 billion, subject to customary adjustments. The transaction includes Goodwin Steel Castings, Goodwin International, Noreva, Easat Group and the Pump Division, which supply aerospace, defense, nuclear, power and mining customers.

The operations will remain headquartered in Stoke-on-Trent, also their main manufacturing center. Closing is expected in the first quarter of 2027, subject to regulatory approvals and other customary conditions.

The acquisition is part of Cerberus' Supply Chain strategy.