Fri, 13 Jun 2025 | BUSINESS SALE
Renold, a listed engineering business headquartered in Manchester and with another UK base in Cardiff, is set to be taken private by a US group in a deal worth nearly £190 million. An offer from MPE Bid Co, a newly-formed corporation indirectly controlled by funds managed by Morgenthaler Private Equity, has been recommended to the group’s shareholders.
Renold designs, engineers, manufactures and supplies premium, high specification industrial chain and torque transmission products, serving a large international customer base across a wide variety of industrial power transmission markets.
In addition to its UK bases, the company also has manufacturing facilities across Europe, North America and Asia. Following its takeover by MPE, Renold’s Manchester headquarters will be relocated to the US within a year.
MPE reportedly intends for Renold to sit alongside Webster Industries, a portfolio company within the group’s industrial platform. Renold is viewed by the buyer as a resilient, high-quality business, with a strong reputation, diverse customer base and global footprint.
Post-acquisition, the combined Renold and Webster group will share a global headquarters at a yet-to-be-confirmed location in the US. Renold will maintain its global network of offices in major regions, with Webster able to utilise these post-acquisition.
Constantine Elefter, partner at MPE commented: "We are extremely excited about the opportunity to partner with Renold, which we view as highly complementary to Webster.”
"We believe the combination represents a compelling opportunity to significantly enhance the combined capabilities and opportunities for both companies, bringing together recognized industry brands and creating one of the leading players within the premium industrial chain industry.”
"Both companies share a deep commitment to product quality, engineering innovation and customer service and we look forward to collaborating closely with Renold's talented team to drive further growth and innovation, building on the strong foundation they have established."
Renold Chairman David Landless added: "Renold is a leading designer, engineer, manufacturer and supplier of premium, high specification industrial chain and torque transmission products with a large number of international customers, across a broad range of industrial power transmission and conveyor system markets.”
"The Renold board believes that the offer not only represents a significant premium and provides shareholders with the certainty of a cash consideration but also provides an opportunity to deliver on our strategy more quickly.”
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