UK engineering group Goodwin has agreed to sell a substantial portion of its defence-related Mechanical Engineering division to US private equity firm Cerberus Capital Management for £1.1bn ($1.49bn), according to a report by Reuters.
The transaction covers Goodwin Steel Castings, Goodwin International, Noreva, Easat Group and Pumps, with the businesses supplying components for naval vessels and submarine programmes in both the UK and US.
The deal comes amid strong demand for precision-engineere...
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