Eversheds Sutherland Advised Renold Plc On £187 Million Acquisition By MPE Bidco

Eversheds Sutherland advised Renold plc on £187 Million acquisition by MPE Bidco

Eversheds Sutherland advised Renold plc on its recommended all-cash acquisition by MPE Bidco, a newly formed entity backed by US private equity firm MPE Partners. The £187 million transaction is structured as a UK scheme of arrangement and includes an offer of 82 pence per share—representing a 50% premium to Renold’s share price prior to the offer period and a 96% premium to its three-month average.

The transaction will see MPE combine Renold, an AIM-listed manufacturer of industrial chains and transmission systems, with its portfolio company Webster Industries, creating a global leader in power transmission. The board of Renold has unanimously recommended that shareholders vote in favour of the deal. Completion is expected in the final quarter of 2025, subject to shareholder and regulatory approvals.

Eversheds Sutherland is advising on all aspects of the transaction, including public M&A, employee incentives, and regulatory matters.

The Eversheds Sutherland team was led by Steve Nash (Partner, Corporate), with support from Annika Unsworth, Dani Pym, and Nicole Woo (Corporate); Daniel Blum, Victoria Green, and Brittany Dodds (Incentives); Peter Harper, Cathryn Morgan, Emily Beighton, and Charlotte McBride (Regulatory, Antitrust & FDI); Barney Smedley and Connor Atkinson (Restructuring); Ele Lovering and Sarah Lown (Pensions); and Daniel Hall, client partner for Renold plc.

Daniel Hall, client partner for Renold plc, said,

“We are delighted to continue supporting Renold as it takes this transformative step. This transaction represents a strong endorsement of the business and its long-term strategy.”

Steve Nash, lead partner, said,

“We’re proud to support Renold on this landmark transaction, which marks a significant milestone in its growth journey. The deal demonstrates continued confidence in UK industrial businesses with global reach. It’s been a pleasure working alongside the Renold team on this important step forward.”

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