After lengthy negotiations, the matter has now been settled: the Volkswagen Group has concluded an exclusive agreement with the US private equity firm Bain Capital regarding the sale of a majority stake in Everllence.
51 per cent of the shares are to be transferred to Bain Capital. According to a statement, Volkswagen aims to “significantly strengthen the company’s fundamentals during its ongoing transformation” through this transaction. In the medium term, Volkswagen plans to remain a “major shareholder” in Everllence, holding a 49 per cent stake.
The deal, which has been anticipated for some time, is subject to the statutory information and consultation procedures with employee representatives in France, as well as further conditions and approvals from the regulatory authorities.
As part of the planned ‘leveraged buy-out’ transaction, Volkswagen will raise approximately €7.4 billion. The company – formerly known as MAN Energy Solutions – which ranks among the world’s leading manufacturers of large engines, turbomachinery and decarbonisation solutions – is set to continue its growth in the dynamic markets of global shipping, data centres and the energy sector under the new ownership structure. The carrying amount of Everllence SE on Volkswagen AG’s balance sheet as at 31 May 2026 was approximately €3.4 billion.
Founded in 1984, Bain Capital describes itself as one of the “world’s leading private investment firms.” It invests across various asset classes, including private equity, growth & venture, capital solutions, credit & capital markets, and real assets. Bain Capital has 24 offices across four continents, employs more than 2,000 staff and manages assets totalling around $225 billion. The company has so far had only a limited presence in the maritime industry. For example, Bain Capital had previously expressed an interest in DB Schenker but came away empty-handed. It was also involved in the terminal business.
Everllence CEO Uwe Lauber said: “With this transaction, we aim to lay the foundations for sustainably continuing and further accelerating our successful growth trajectory. Bain Capital’s financial strength, strategic expertise and global network are set to strengthen our position, drive innovation, scale up cutting-edge technology and tap into new markets. At the same time, we are committed to remaining a reliable partner for our customers – with the clear aim of making key industries worldwide more efficient, successful and climate-friendly.”
With around 16,000 employees and a turnover of €4.9 billion, Everllence ranks among the world’s leading manufacturers of large motors and turbomachinery. According to the company, Everllence has “grown steadily” over the past six years and, thanks to high demand, has repeatedly reported record levels of order intake.
Oliver Blume, CEO of the Volkswagen Group, emphasised that the company had been realigned and strengthened following the takeover in 2018. However: “Now is the right time to take the next step – to sell a majority stake to a new, strong partner. In doing so, we aim to create added value for everyone: leaner structures and processes will give Everllence the opportunity for further growth in attractive markets such as data centres, the energy sector and shipping. At the same time, we can focus even more strongly on our core business.”
As part of the transaction, safeguards for the company’s German sites have been agreed: the sites in Augsburg, Oberhausen, Berlin, Hamburg and Ravensburg are to be retained under the new ownership structure until at least the end of 2030. According to official statements, redundancies for operational reasons are ruled out during this period.
Arno Antlitz, CFO and COO of the Volkswagen Group, said the aim was to create competitive structures. This also includes “the active management of our numerous companies and shareholdings”. At the same time, the Volkswagen Group aims to reduce the complexity of its structures, streamline management, strengthen its financial position and increase its financial flexibility. “Our shareholders, too, can benefit from this transaction in several ways: on the one hand, through the Volkswagen Group’s strengthened financial position, and on the other, through a share in Everllence’s future value and growth potential,” the Chief Financial Officer continued.
