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Goodwin agrees £1.1 billion sale of defence unit to Cerberus
The deal follows a possible sale review in August and is due to close next year, pending regulatory approval.
- British engineering firm Goodwin PLC agreed to sell its Mechanical Engineering Division to Cerberus Capital Management for approximately £1.1 billion on Tuesday, September 9, 2026.
- This agreement follows Goodwin's 118% profit increase last month, driven by rising global demand for radar equipment and submarine components essential to Western-allied nations' security.
- Acquired businesses include Goodwin Steel Castings Limited and Easat Group, with operations set to remain headquartered in Stoke-on-Trent as a major manufacturing center.
- Cerberus Chief Executive Officer Frank Bruno stated the investment supports their strategy to advance "industrial strength and supply chain resilience" for the US, UK, and their allies.
- Subject to regulatory approval, the transaction is expected to complete in the first quarter of 2027 following an "internal reorganisation" that the company will undertake across the group.
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Goodwin sold a substantial portion of its mechanical engineering division to an affiliate of Cerberus Capital Management for up to £1.1 billion in cash, as part of a strategy to focus the focus of the group's work. Exclusive material for subscribers. To have full access, access the material link and register.
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Total News Sources15
Leaning Left3Leaning Right1Center8Last UpdatedBias Distribution67% Center
Bias Distribution
- 67% of the sources are Center
67% Center
L 25%
C 67%
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