Volkswagen Group agreed on 24 June to sell a 51% stake in Everllence, its Augsburg-based large-engine and turbomachinery maker, to Bain Capital in a leveraged buyout expected to bring the carmaker about €7.4bn.
Why Bain Capital is buying Everllence (51% stake)
Volkswagen said the sale streamlines its investment portfolio and significantly strengthens its financial position during its transformation. Chief executive Oliver Blume said it was the right moment to hand the majority to a new, strong partner.
“Now is the right time to take the next step – to transfer the majority stake to a new, strong partner.”
Deal terms and financing
The proceeds comprise payment for the 51% stake and debt expected to be raised by Everllence after completion. Volkswagen intends to keep its 49% holding in the medium term.
Regulatory approvals and timing
Because of French employee-consultation rules the agreement was struck as an exclusive arrangement. The European Commission cleared the transaction in August; the parties aim to satisfy the remaining conditions, including the French process, by the end of 2026.
Market context
Everllence was renamed from MAN Energy Solutions in June 2025. It has more than 140 locations worldwide, and the agreement protects its sites in Augsburg, Oberhausen, Berlin, Hamburg and Ravensburg until at least the end of 2030, ruling out compulsory redundancies.
