Renold plc considers takeover bids from two parties

LONDON - Renold plc, a leading engineering firm, has confirmed receiving two separate non-binding all-cash proposals for the acquisition of its entire issued and to be issued share capital. These proposals were put forward by a consortium consisting of Buckthorn Partners LLP and One Equity Partners IX, L.P., and by Webster Industries, Inc, which is majority-owned by a fund managed by Morgenthaler Private Equity (MPE).

The consortium has proposed an offer of 81 pence per Renold share, while Webster Industries has proposed 77 pence per Renold share. Both offers follow several previous proposals and are subject to customary pre-conditions. The Board of Renold is currently engaging with both parties, providing access to management and due diligence information.

As per the City Code on Takeovers and Mergers, there is no certainty that either offer will lead to a firm intention to make an offer. The deadline for either party to announce their intention is 5:00 pm on June 17, 2025. This deadline may only be extended with the consent of the Takeover Panel.

This announcement, which contains inside information, was made without the consent or approval of either the consortium or Webster. Andrew Batchelor, Company Secretary, is responsible for this release on behalf of Renold.

Renold’s financial adviser, Peel Hunt LLP, is providing exclusive assistance to the company in connection with these proposals. Peel Hunt is authorized and regulated by the Financial Conduct Authority in the UK.

The company has also made the necessary disclosures in accordance with the Market Abuse Regulations, indicating that the information in this announcement was considered inside information prior to its release.

Investors and interested parties should note that this announcement is based on a press release statement and that further details can be found on Renold’s website. The company’s issued share capital as of the date of the announcement consists of 225,417,740 ordinary shares with a par value of 5p each.

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