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(Bloomberg) — Goodwin Plc, a family-run UK engineering firm founded more than 140 years ago, has started a strategic review that may lead to the sale of a large chunk of a key business.
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The London-listed group said in a statement Friday that it’s working to “consider a range of potential options to maximise value for shareholders.”
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Goodwin said the review could result in the sale of a substantial part of its mechanical engineering division, which includes Goodwin Steel Castings and Goodwin International. Several buyout firms with track records in defense have submitted expressions of interest, the Financial Times reported earlier, citing people familiar with the matter.
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Shares in Goodwin jumped as much as 16% on Friday.
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Founded in the late nineteenth century as an iron foundry in Stoke-on-Trent, Goodwin specializes in mechanical and refractory engineering. The company makes components for submarines and ships, as well as surveillance radar systems for military use. It’s also active in the automotive, mining, energy and jewelry industries, its website shows.
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Goodwin’s stock has more than doubled in London trading over the last 12 months, giving it a market value of around £1.6 billion ($2.2 billion). The company has benefited in part from the rising demand for military components around the world.
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Goodwin’s mechanical engineering unit has contributed to growth in profitability through the supply of precision-machined, high-integrity castings into mission critical defense and nuclear applications, Goodwin said in a 2025 report.
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Rothschild & Co. is advising Goodwin’s board on the strategic review.
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