Sidara’s reduced bid for Wood Group —
Dubai-based consultancy Sidara has inched closer to acquiring Aberdeen-headquartered engineering group Wood Group. Following due diligence, Sidara lowered its proposed cash offer to 30p per share from an earlier 35p. Wood’s board has indicated it is “minded to recommend” the revised terms, with the UK Takeover Panel extending the deadline to 28 August.
The potential £240 million deal comes as Wood faces a Financial Conduct Authority review into financial reporting controls. Should it proceed, the takeover could see the company delist from the London Stock Exchange, closing a long chapter for one of the FTSE 250’s industrial stalwarts.
Boots taken private by Sycamore Partners —
US private equity firm Sycamore Partners, working alongside long-term Boots investor Stefano Pessina and family, has completed the acquisition of The Boots Group.
Announced on 28 August, the deal takes the 175-year-old retailer private, with the business continuing to operate as a standalone company from its UK headquarters. Existing management remains in place. The move is framed as an opportunity for Boots to accelerate its strategic transformation in a less pressured ownership environment, following a turbulent period of restructuring and store closures.
Zenobē buys Carlisle battery-storage site —
Sustainable infrastructure investor Zenobē has agreed to acquire a 400 MW battery energy storage project from Innova at Low Harker, near Carlisle. The deal strengthens Zenobē’s role in the UK’s transition to renewable energy, with the project aligned to the government’s 2030 target of 25 GW storage capacity.
The site, described as ready-to-build, will also include community investment programmes. It reflects growing momentum in UK energy storage as part of wider climate-aligned capital deployment.
Castore acquires Belstaff —
British sportswear brand Castore has completed its acquisition of Belstaff from INEOS, bringing together two UK-founded heritage labels. The transaction, agreed on a debt-free, cash-free basis, allows INEOS to retain a minority interest at the holding company level.
Castore, known for its partnerships with elite sports clubs, is expanding into luxury lifestyle apparel, while Belstaff adds heritage cachet and international recognition. The deal marks a consolidation of premium British brands seeking growth across both sports and fashion markets.
GENDA enters UK leisure market —
Japanese entertainment company GENDA Inc. has signed a definitive agreement to acquire Indigo NewCo Limited, a business operating more than 100 amusement arcades and 125 mini-locations across the UK. The deal represents GENDA’s first significant move into the British leisure market. Indigo NewCo, operated by Inspired Gaming, manages popular venues including Flip Out and Putt Putt Social. The acquisition highlights sustained global investor interest in the UK’s consumer and experiential entertainment sectors.
Bottom line —
This week’s UK M&A activity highlights the interplay between global capital, domestic heritage, and strategic infrastructure. Sidara’s bid for Wood Group demonstrates how overseas buyers continue to target London-listed companies, even amid regulatory scrutiny, while Sycamore Partners’ acquisition of Boots reflects private equity’s appetite for legacy retail brands transitioning through structural change.
At the same time, Castore’s move on Belstaff shows how UK-founded businesses are consolidating heritage names to compete at the intersection of sport and luxury fashion. Zenobē’s acquisition of a 400 MW battery storage site underscores the scale of investment required to deliver on Britain’s clean energy commitments, while GENDA’s entry into the leisure market illustrates international interest in UK consumer experiences.
Taken together, the week’s transactions reveal a dual narrative: established British icons seeking renewal under new ownership, and infrastructure deals channelling capital into the future of energy and entertainment. In both, the constant is a recalibration of ownership to meet shifting market, policy, and consumer demands.
Key takeaways —
- Global capital targeting UK assets — From Sidara’s approach to Wood Group to Sycamore’s buyout of Boots and GENDA’s entry into leisure, overseas investors continue to see opportunities in the UK across industrial, retail, and consumer markets.
- Heritage meets reinvention — Castore’s acquisition of Belstaff and Boots’ move into private ownership highlight how established British brands are being repositioned — either through consolidation or new capital structures — to compete in shifting global markets.
- Energy transition investment — Zenobē’s purchase of a 400 MW battery-storage site illustrates the growing flow of M&A capital into infrastructure critical to the UK’s net-zero goals, underscoring investor confidence in long-term demand for clean energy assets.
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