7:59 am, January 30, 2026
Pinewood.AI has entered talks over a potential takeover deal which could see the firm bought by a leading private equity firm.
A filing to the London Stock Exchange this morning (Jan 30), revealed that the automotive tech company is in talks with Apax Partners LLP over a potential cash offer of 500 pence per share.
While an official offer is yet to be lodged, the prices mentioned would value Pinewood.AI at around £575m, with the company currently having around 115.1m shares.
The firm was previously part of Pendragon, before the group’s automotive retail division was sold to US giants Lithia in a £397m deal in 2024.
Boss Bill Berman, whose pay package previously led to major revolts among Pendragon stakeholders, retains a significant shareholding in Pinewood.AI and would likely be in line for a bumper payday should a deal go through.
In this morning’s release, the firm stressed that no offer is guaranteed, but admitted that the board was minded to recommend accepting the terms, as they are currently laid out.
The announcement says: ‘The Board of Pinewood.AI notes the recent press speculation regarding Pinewood.AI and confirms that it has entered into discussions with Apax Partners LLP (Apax) regarding a possible cash offer of 500 pence per share for the entire issued and to be issued share capital of Pinewood.AI (the “Possible Offer”) by Apax.
‘As an alternative to receiving cash, the possible offer will include an unlisted partial share alternative.
‘This possible offer follows a number of earlier approaches from Apax to the board regarding a possible cash offer for Pinewood.AI.
‘Having carefully considered the terms of the Possible Offer together with its advisers, the board of Pinewood.AI has concluded that the possible offer is at a value that it would be minded to recommend to Pinewood.AI shareholders should a firm intention to make an offer pursuant to Rule 2.7 of the Code be announced on such financial terms, subject to agreement of all other terms and conditions of an offer and completion by Apax of confirmatory due diligence.’
Founded in 1972, Apax is now one of the world’s leading private equity and venture capital advisory firms, with offices in London, New York, Hong Kong, Mumbai, Tel Aviv, Munich and Shanghai.
You can read Pinewood.AI’s full statement to the London Stock Exchange here.
