Bain Capital announced that it has agreed to acquire a majority stake in Everllence from Volkswagen Group. Financial terms of the transaction were not disclosed.
Everllence is a global developer and manufacturer of 2-stroke and 4-stroke marine and power engines and turbomachinery.
The company generates approximately €5 billion in revenue and has about 16,000 employees across Europe, Asia, and the Americas.
Everllence serves customers across global shipping, naval defense, power generation, and industrial processing.
The company also maintains a large aftermarket service network with more than 140 locations worldwide.
The transaction is structured as a carve-out from Volkswagen Group. Volkswagen will retain a shareholding in Everllence and remain a long-term partner.
The transaction is being led by Bain Capital’s private equity teams in Europe and Asia.
Bain Capital said it plans to work closely with Everllence’s management team and Volkswagen to support the company’s next phase of growth.
Key areas of focus include expanding Everllence’s service business with its global installed customer base and investing in its growing role in naval defense, where demand across Europe and other markets is increasing.
Bain Capital also plans to support the continued development of alternative fuel platforms for the decarbonization of global shipping.
Another focus area will be the opportunity in behind-the-meter power generation for data centers and industrial infrastructure.
Bain Capital said it brings global industrial sector expertise and operational support to help create long-term impact for Everllence’s customers, employees, and communities.
The transaction is subject to regulatory approvals and customary closing conditions.
Everllence is headquartered in Europe and operates globally across marine, naval, power generation, and industrial end markets.
Bain Capital is a global private investment firm founded in 1984. The firm has approximately $225 billion in assets under management and invests across private equity, growth and venture, capital solutions, credit and capital markets, and real assets.
KEY QUOTES:
“At Bain Capital, we have always believed that the right partnership is how exceptional outcomes are created. We invest in people as much as companies, and we take a long view. Under Volkswagen’s ownership, Everllence has developed into a global platform with a strong management team and a clear vision for where it is headed. We are glad to be working alongside them to help realize that vision.”
Dr. Michael Siefke, Partner and Chair of Europe Private Equity at Bain Capital
“We believe in Everllence as a global technology leader in maritime decarbonization, naval defense, and distributed industrial power. Everllence is uniquely positioned to enable energy transition in global seaborne trade and address increasing power needs from accelerating data center energy demand. Its products and services are supporting customers globally at the core of their operations. We are excited to partner with the team on the journey ahead.”
Florian Taufmann, Partner at Bain Capital
