UK's Goodwin explores sale of engineering assets (updated)

Goodwin

07/08/2026 05:34

Recasts with Goodwin announcement, adds context throughout
Aug 7 (Reuters) - British engineering company Goodwin GDWN.L said on Friday it was exploring a potential sale of parts of its mechanical engineering business as it embarks on a broader strategic review.
The company said the review would consider a range of options, including the potential sale of businesses within its Mechanical Engineering division, home to its defence-related manufacturing operations as well as its industrial engineering and pumps businesses.
Goodwin primarily manufactures heavy-duty, high-precision industrial components and mineral-based materials for the defence, nuclear and energy industries.
The Financial Times reported earlier on Friday that Goodwin was in talks to sell its defence business, with several buyout firms with defence-sector experience submitting expressions of interest to the company in recent weeks.
The Stoke-on-Trent-based company's defence operations manufacture surveillance system parts and critical components for ships and submarines, and account for about 57% of Goodwin's forward order book.
Rising defence budgets following conflicts in Ukraine and Iran have accelerated consolidation across the sector, with larger defence contractors increasingly targeting suppliers and military technology firms to strengthen supply chains.
In November, the company's controlling shareholder, the Goodwin family, sold shares representing about 1.6% of the company's share capital to institutional investors.
Goodwin shares fell earlier this year after the company said the Iran war had delayed orders in the Middle East and prompted it to consider reducing dividend payouts.
($1 = 0.7434 pounds)

 (Reporting by Rishabh Jaiswal and Atharva Singh in Bengaluru. Editing by Nivedita Bhattacharjee and Mark Potter)
 ((rishabh.jaiswal@thomsonreuters.com; +91 9916719147))