Volkswagen sells majority stake in Everllence to Bain Capital
Private equity firm Bain Capital takes 75% of the marine engine maker — formerly MAN Energy Solutions — in a deal valuing it at EUR7.4bn.
Volkswagen has agreed to sell a majority stake in German engine maker Everllence to private equity firm Bain Capital, in a deal valuing the business at EUR7.4bn ($8.4bn).
Bain Capital will acquire 75% of Everllence, with Volkswagen Group keeping a 25% minority holding. The transaction is subject to regulatory approvals and is expected to close later this year.
Everllence — formerly known as MAN Energy Solutions — is one of the world's leading suppliers of large-bore two-stroke and four-stroke marine engines, with its technology powering a substantial share of the global merchant fleet. The company also runs growing businesses in energy infrastructure, carbon capture, heat pumps and industrial decarbonisation technologies. It employs around 15,000 people worldwide, with manufacturing, research and service sites across Europe, Asia and the Americas.
