21-05-2025
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
