Goodwin, the British engineering group based in Stoke-on-Trent, has announced it's thinking about selling off a big chunk of its defence and nuclear supply business. You know, the one that makes components for submarines and frigates. Because why not? The company said on Friday it's launched a strategic review to 'maximise value for shareholders,' which is corporate-speak for 'we might be cashing in on this defence boom.'

The part up for grabs is a 'substantial part' of its mechanical engineering division, which includes Goodwin Steel Castings (GSC), Goodwin International (GI), Noreva, Easat, and Pumps. These are the folks supplying bits for the UK's Dreadnought submarine programme (the one building nuclear deterrent subs) and the Type 26 frigate programme (advanced anti-submarine warships). Also, US programmes. So, pretty important stuff.

Goodwin's board is being advised by Rothschild & Co, which sounds fancy. They stressed there's no certainty a deal will happen, but discussions are ongoing. The Financial Times reports several defence-savvy buyers have been sniffing around. Shares jumped about 10% on Friday morning, so the market seems to like the idea.

The company, founded in 1883 and still run by the Goodwin family, has been riding high on increased defence spending. But it took a hit in March when it lost two contracts and faced order delays in the Middle East. Russ Mould at AJ Bell noted Goodwin is a global leader in its niche, and any sale might not mean the end of military revenue for the company. In fact, it might just be a reminder that the UK has some pretty niche engineering talent.