Volkswagen to sell majority stake in engine maker Everllence to Bain Capital

The Volkswagen Group has entered into an exclusive arrangement with private investment firm Bain Capital for the sale of a majority stake in Everllence, formerly known as MAN Energy Solutions, in a leveraged buy-out generating proceeds of approximately EUR 7.4 billion. Under the agreement, Volkswagen will transfer 51 per cent of its shares, while retaining a 49 per cent holding in the medium term. The transaction is intended to strengthen Volkswagen's financial position as it pursues its transformation, while streamlining the group's investment portfolio. A decision on the use of the proceeds is to be taken at a later date.

Everllence is a significant supplier to the maritime sector, providing propulsion, decarbonisation and efficiency solutions alongside its activities in the energy and industrial markets. The company has reported repeated record order intake in recent years, with demand underpinned by the energy transition, global infrastructure expansion and rising electricity consumption linked to digitalisation and data centres. With around 16,000 employees across more than 140 locations worldwide, it generated revenue of EUR 4.9 billion. As at 31 May 2026, the book value of Everllence in the balance sheet of Volkswagen AG stood at approximately EUR 3.4 billion.

The business was acquired by Volkswagen in 2018 and rebranded from MAN Energy Solutions to Everllence in June 2025. Volkswagen CEO Oliver Blume said the company had been realigned and strengthened since the acquisition, adding that transferring the majority stake to a new partner would allow leaner structures while enabling Volkswagen to focus more strongly on its core business. CFO and COO Arno Antlitz said the move would reduce structural complexity and increase financial flexibility, with shareholders benefiting both from a strengthened balance sheet and from continued participation in Everllence's growth potential.

Everllence CEO Dr Uwe Lauber said Bain Capital's financial strength, strategic expertise and global network were expected to support innovation and expansion into new markets, while the company remained committed to its customers and to making key industries more efficient and climate-friendly.

As part of the transaction, safeguards have been agreed for Everllence's German sites in Augsburg, Oberhausen, Berlin, Hamburg and Ravensburg, which will be retained at least until the end of 2030, with compulsory redundancies ruled out during that period.

The deal remains subject to the completion of information and consultation processes with employee representation bodies required by law in France, as well as customary conditions and regulatory approvals. These are expected to be met by the end of 2026.

jun 25 2026