Latest news with #Renold
Wall Street Journal
13-06-2025
- Business
- Wall Street Journal
U.K.'s Renold Agrees to $254 Million Private-Equity Takeover by MPE Bidco
U.K. chain and gear maker Renold agreed to a $254 million takeover by MPE Bidco, which the companies said would improve their capabilities and opportunities. MPE Bidco, a newly formed corporation backed by U.S. private-equity firm MPE, on Friday said each shareholder of the British company would receive 82 pence in cash for each ordinary share, valuing it at 186.7 million pounds ($254.2 million).
Times
21-05-2025
- Business
- Times
Engineering firm Renold targeted by private equity pair
A 161-year-old British manufacturer of industrial chains and clutches is being circled by private equity firms hoping to take it out in a deal worth over £160 million. Renold, based in Manchester, has in recent weeks received 'several' proposals from two parties. One is a consortium comprising Buckthorn Partners, a London private equity firm, along with One Equity Partners from New York. The other is from Webster Industries, an American rival owned by Morgenthaler Private Equity. Neither suitor has made a formal offer yet, although Buckthorn and One Equity have said they are considering bidding 81p for each Renold share, which would value the business at about £162 million. Webster's latest proposal is at a price of 77p for each Renold share, which equates to
