Bodycote

Bodycote shares have jumped by a staggering 30%. Shock. So I looked into the matter. Two large investment companies have made an offer to buy all of Bodycote shares from shareholders, at a price that is unlikely to be refused. From what I have read, the Bodycote board is likely to recommend a sale to shareholders. Is this the end? Or the beginning? It is hard to say.

According to English rules, when announcing a binding offer, the buyer must, under the British Takeover Code, disclose its intentions regarding:

• the future of the business,
• employees and management,
• changes in working conditions and job structure,
• headquarters and location of operations,
• pension liabilities,
• further use or sale of fixed assets.

Only then will it be clear what will happen. And who are the investors?

CVC

CVC is a broad-based European-American private-equity investor. It has experience in industrial and aerospace companies. For example, in Ontic, the acquisition was followed by investments in repair capabilities, technical teams, customer support and data analytics. This shows that CVC does not have to operate solely through cost reduction methods, but can create a long-term growth platform

Veritas Capital

Veritas is profiled as an investor in mission-critical technologies and services at the interface of industry, government, aerospace and defense. It has a long history of acquisitions and subsequent sales of companies in the defense and technology environment

And what are the reactions? John Hubbard, former president, wrote about it: “Grab the popcorn, this time it’s live action. Boy will be bought and have the opportunity to regain it MoJo that has been lost over the past years”. If I interpret the terminology, it probably means this: Bodycote will be bought and will have the opportunity to regain the energy, dynamism and former strength that it has lost in recent years.

So we will see. Unfortunately, in the Czech Republic or Slovakia there is no one who could directly influence this, so the decisions will be made by others. But one thing is certain, there is a high probability that part of the operations in CZ and SK will be for sale.

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Jiří Stanislav, Ing. CSc.
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7/8/2026