UK's Pinewood Technology plunges after Apax Partners withdraws buyout bid

Pinewood Technologies

16/02/2026 08:12

** Shares of Pinewood Technologies PINE.L down 25.5% at 325 pence, their lowest point since April 28, 2025

** Stock of the automotive service provider is the top percentage loser in the FTSE mid-cap .FTMC index, which is up 0.1%

** Private equity firm Apax Partners withdrew its offer for PINE, citing prevailing challenging market conditions, on February 13

** PINE says confident in positive long-term prospects and to achieve FY28 underlying EBITDA of 58 million pounds - 62 million pounds ($79.11 million - $84.56 million)

** In 2025, PINE's shares were down 0.3%

($1 = 0.7332 pounds)

 (Reporting by Nithyashree R B in Bengaluru)

 ((NithyashreeRB@thomsonreuters.com))