• Home /
• About Us / 
• Latest News / 
• 20 May 2025

20 May 2025

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN WHOLE OR IN PART IN, INTO OR FROM ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OR REGULATIONS OF THAT JURISDICTION

THIS IS AN ANNOUNCEMENT FALLING UNDER RULE 2.4 OF THE CITY CODE ON TAKEOVERS AND MERGERS (THE "CODE") AND DOES NOT CONSTITUTE AN ANNOUNCEMENT OF A FIRM INTENTION TO MAKE AN OFFER UNDER RULE 2.7 OF THE CODE

THERE CAN BE NO CERTAINTY THAT AN OFFER WILL BE MADE, OR AS TO THE TERMS OF ANY SUCH OFFER

THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION

20 May 2025

Renold plc (the “Company” or “Renold”)

The Board of Renold notes the recent press speculation and confirms that it has received two separate unsolicited and non-binding all-cash proposals from a consortium comprising Buckthorn Partners LLP and One Equity Partners IX, L.P. (the “Consortium”), and Webster Industries, Inc, a company majority-owned by a fund managed and controlled by Morgenthaler Private Equity (“MPE”), to acquire the entire issued and to be issued share capital of Renold.

The Consortium’s latest proposal is at a price of 81 pence per Renold share (the “Consortium Proposal”), and Webster’s latest proposal is at a price of 77 pence per Renold share (the “Webster Proposal”), and each follows several previous proposals.

Both the Consortium Proposal and the Webster Proposal are subject to the satisfaction or waiver of a number of customary pre-conditions. The Board of Renold is currently engaging with both the Consortium and Webster, including providing them with access to management and diligence information.

There can be no certainty that an offer will be made, or as to the terms of any such offer.

In accordance with Rule 2.6(a) of the Code, by not later than 5.00 pm on 17 June 2025, each of the Consortium and Webster must either announce a firm intention to make an offer for Renold in accordance with Rule 2.7 of the Code or announce that it does not intend to make an offer for Renold, in which case the announcement will be treated as a statement to which Rule 2.8 of the Code applies. This deadline will only be extended with the consent of the Takeover Panel in accordance with Rule 2.6(c) of the Code.

This announcement is made without the agreement or approval of the Consortium or Webster.

The person responsible for making this announcement on behalf of Renold is Andrew Batchelor, Company Secretary.

Enquiries