Global law firm Ashurst Perkins Coie is advising Goodwin PLC on the sale of a substantial part of its Mechanical Engineering division which includes Goodwin Steel Castings Limited, Goodwin International Limited, Noreva GmbH, Easat Group and the Pumps Division to an affiliate of Cerberus Capital Management, L.P., an investor with significant relevant industry experience.
The transaction represents a compelling opportunity to unlock shareholder value and invest in the Goodwin group's remaining businesses (Refractory Engineering Division and Technological Division).
The transaction is expected to complete in the first quarter of 2027, subject to the receipt of customary regulatory approvals and completion of an internal reorganisation.
The cross-border Ashurst Perkins Coie team is being led by corporate partners Tom Mercer and Hayley Gow, with senior associates Lottie White, Alicia Ingham, Louise Chan and Colin Bugler, assisted by associates Dominic Armstrong, Patrick Chambers, Amelia Howison and trainee Millie McElroy. Partner Duncan Liddell, senior associate Olivia Spong and associate Florence Chan are advising on competition matters, and partners Nicholas Gardner and Patricia Allen, supported by senior associates Ben Doeh, Euan Mills, and associates Hugh Riisfeldt, Beth Sercombe, and Natalie Gunner are advising on tax aspects.
Real estate advice is being provided by partner Todd Wu, senior associate Jack Davies, and associates Rebecca Moore and Nic Sloan, while partner David Futter, senior associate Tom Brookes and associates Matthew Vine and Nilesh Ray, are advising on commercial contracts. Partner Ruth Buchanan, assisted by associates Katharine Foster and Elizabeth Melsom, is advising on employment matters and partners Tim Rennie and Kerion Ball, with associates Olivia Oliff, Izhak Goldstein, Nico Lykiardopoulos are advising on financial aspects.
The Australia based team comprises corporate partner Kylie Lane and senior associate Cameron Huson, IP partner Anita Cade and senior associates Emily McCracken and Imogen Loxton and competition partner John McKellar. The German team comprises corporate partner Stefan Bruder, senior associate Anne Krafft and associate Maylin Heinrich, and tax counsel Miriam Staatz. The Asia corporate team includes Shanghai-based partner Michael Sheng, counsel Derek Wang, and associate Chloe Xiang, and Seoul based partner Jeongtaek Kim and associate Hyuck Jin Lee.
