Goodwin, a British supplier for Dreadnought nuclear submarines, is in talks to sell its defence business. Buy‑out firms with defence experience have expressed interest. The Stoke‑on‑Trent‑based company, half‑owned by its founding family, has a market cap of about £1.4bn and is FTSE 250 listed.

Shares have fallen ~14% this year after missing radar antenna and transceiver orders and facing valve delays amid Middle East tensions. Goodwin supplies components to UK and US Navy frigate and submarine programmes, including the Royal Navy’s Astute and Dreadnought‑class vessels and America’s Virginia, Columbia and Gerald Ford‑class ships.

Defence accounts for 57% of Goodwin’s £287 mn order book, with UK and US contributing 29% and 16% of external revenue. A sale to a US buyer would trigger scrutiny by British and US authorities for national‑security reasons. The firm also announced a collaboration with Northrop Grumman last year.

If acquired, Goodwin would be the latest British defence asset sold to an American. Lockheed Martin recently outbid rivals for Ultra Maritime. Goodwin declined to comment.