Volkswagen Group has agreed to sell a 51% stake in Everllence to Bain Capital. The company will retain a 49% stake in the medium term.
The deal supports Volkswagen’s strategy to strengthen its financial position as it continues its transformation. The transaction remains subject to regulatory approvals and the completion of the consultation process in France.
Volkswagen expects the transaction to generate approximately €7.4 billion in proceeds. The company said the new ownership structure will help Everllence accelerate its growth in shipping, energy and data centres.
Everllence is one of the world’s leading manufacturers of large engines, turbomachinery and decarbonization solutions. The company was previously known as MAN Energy Solutions before rebranding in June 2025. Volkswagen acquired the business in 2018 and has since reshaped its operations and strategy.
“The transaction lays the groundwork for the sustainable continuation and further acceleration of our successful growth trajectory,” said Uwe Lauber, CEO of Everllence. “Bain Capital’s financial strength, strategic expertise and global network are expected to strengthen our position to 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 ambition of making key industries worldwide more efficient, successful and climate-friendly.”
Everllence has benefited from strong demand in recent years. Growth in the energy transition, digitalisation and data centre investments continues to drive demand for its technologies.
“Over the past few years, Everllence has developed into a success story that we can be proud of,” said Oliver Blume, CEO of Volkswagen Group. “Today, Everllence is one of the world’s leading manufacturers of large engines, turbomachinery and decarbonization solutions. Now is the right time to bring in a new, strong partner. This will help Everllence expand further in shipping, energy and data centres while allowing Volkswagen to focus more on its core business.”
Arno Antlitz, CFO and COO of Volkswagen Group, said the transaction supports the company’s transformation strategy.
“We are systematically driving forward the transformation of the Volkswagen Group and creating competitive structures,” said Antlitz. “Everllence will gain a strong partner in Bain Capital. At the same time, Volkswagen will simplify its structure, strengthen its financial position and maintain exposure to Everllence’s future growth through its remaining stake.”
Everllence employs around 16,000 people and generated revenue of €4.9 billion. The company provides propulsion, decarbonization and efficiency solutions for the maritime, energy and industrial sectors. It has reported record order intake in recent years as demand continued to grow across its core markets.
As of 31 May 2026, Everllence had a book value of approximately €3.4 billion on Volkswagen AG’s balance sheet.
The agreement also includes safeguards for Everllence’s German operations. The company’s sites in Augsburg, Oberhausen, Berlin, Hamburg and Ravensburg will remain operational until at least the end of 2030. The parties also agreed to rule out compulsory redundancies at those locations during that period.
