Pinewood plunges after Apax walks away

Proactive

Mon, February 16, 2026 astatine 3:16 AM CST 1 min read

Shares successful Pinewood Technologies, known arsenic Pinewood.AI, plunged much than 29% to 308.06p after Apax Partners enactment retired a connection connected Friday evening to uncover it was walking distant from talks.

The private equity steadfast said: "In airy of the prevailing challenging marketplace conditions, Apax confirms that it does not mean to marque an offer".

Talks had archetypal been reported astatine the extremity of January, with confirmation that the 2 sides were discussing a imaginable 500p-a-share currency offer.

Pinewood put retired its ain connection connected Monday, wherever the committee of the automotive assemblage bundle supplier said it "remains precise assured successful the affirmative semipermanent prospects for the group", pointing out that it "occupies a starring presumption arsenic a mission-critical, full-service, embedded exertion supplier to automotive retailers and OEMs, benefitting from precocious recurring revenues and long-standing OEM partnerships".

Directors besides expressed their content that the institution is "well-positioned to proceed executing its strategy and to execute its medium‑term FY28 guidance of underlying EBITDA of £58-62 million".

Apax said it reserved the close to instrumentality with an connection for Pinewood within six months if a 3rd enactment bids, the committee agrees to restart talks oregon determination is immoderate different worldly alteration successful circumstances.

Pinewood shares deed a two-year precocious supra 550p past September aft a North American deal, earlier dropping backmost to astir 350p astatine the crook of the year.

  ** UPDATE: Adds stock terms details **