New York – September 12, 2026 -- Cerberus Capital Management has agreed to acquire a substantial part of the Mechanical Engineering Division of Goodwin plc for a headline cash consideration of up to approximately £1.1 billion, subject to customary purchase price adjustments. The deal is expected to close in the first quarter of 2027, pending regulatory approvals and other customary closing conditions.
Deal covers five businesses serving global defense and nuclear markets
The transaction includes Goodwin Steel Castings Limited, Goodwin International Limited, Noreva GmbH, Easat Group, and the Pump Division. These units supply proprietary design, advanced manufacturing, and technical expertise to aerospace and defence, nuclear, power, and mining customers worldwide.
Operations remain tied to AUKUS submarine program and UK navies
The Mechanical Engineering Division serves the UK, US, and Australian navies and is a partner to the AUKUS programme. Following completion, operations will stay headquartered in Stoke-on-Trent, which will remain the primary manufacturing base. Cerberus intends to build on the existing partnership with the UK Ministry of Defence to expand production capacity in the UK in support of AUKUS.
Acquisition extends Cerberus Supply Chain's defense-sector investment run
The deal builds on Cerberus' Supply Chain strategy, launched with its first dedicated fund in 2022, which has made more than two dozen investments across aerospace and defence, data and microelectronics, critical minerals and power, industrial manufacturing, and next-gen telecommunications.
Frank Bruno, Chief Executive Officer of Cerberus, said the firm's long-term commitment to the Goodwin division reflects the importance of investing in leading UK companies to advance the collective security and resilience of Western-allied nations.
Advisory team includes UBS, J.P. Morgan and Davis Polk
UBS Investment Bank and J.P. Morgan Securities plc are serving as financial advisors to Cerberus, while Davis Polk & Wardell LLP is acting as principal legal advisor.