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Renk Group Acquires David Brown Defence in Deal Worth Up to £190 Million
GB News reported that German defence manufacturer Renk Group bought Huddersfield-based David Brown Defence. The transaction, valued at up to £190 million, includes a £700 million order backlog and brings Renk a UK presence in submarine gearboxes. The British government approved the sale.
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Renk Group acquired David Brown Defence, a Huddersfield engineering firm with 165-year roots, in a deal valued at up to £190 million, GB News reported. The Frankfurt-listed buyer, valued at £4.7 billion, gains a £700 million order backlog and expertise in low-noise submarine gearboxes.
David Brown Defence supplies transmission systems for the Royal Navy's Astute-class and Dreadnought-class submarines.
It also equips surface vessels, Challenger tanks and Boxer armoured vehicles, and participates in the AUKUS submarine programme. The company employs 530 workers. Private equity firm Stellex sold the business to Renk after purchasing it three years earlier.
The British government approved the transaction. " Renk, headquartered in Augsburg, Bavaria, operates in six countries with 4,400 staff and already owns the Horstman armoured-vehicle business near Bath. " David Brown Defence supplied marine gears in the First World War and 10,000 tank gearboxes in the Second World War, and was the exclusive gearbox provider for Spitfire aircraft.
