Global investment firm Carlyle has announced an agreement to sell Flender, a global market leader in mechanical drive technology, to Triton Fund 6 advised by Triton Partners. Financial terms of the transaction were not disclosed. The deal is subject to customary regulatory approvals and is expected to close in the fourth quarter of 2026.
Headquartered in Bocholt, Germany, Flender has more than 125 years of engineering heritage and is a leading supplier of gearboxes, couplings, and generators for a broad range of industrial and wind power applications. The company employs more than 8,000 people across 34 countries and operates a global manufacturing, assembly, and service network, holding a leading position in drivetrain technology for wind turbines across its two product brands, Flender and Winergy, serving key industries including wind energy, minerals and mining, cement, power generation, marine, and metals. EcoVadis ranks Flender among the top 1% of the most sustainable companies worldwide.
Carlyle initially carved out Flender from Siemens in 2021 and has since partnered with management to lead the company’s transition to a successful standalone business. During that period, Flender strengthened its leadership position in wind and industrial drive technology, expanded its global service network, grew internationally including in China and India, and repositioned itself as a service champion. Triton Partners brings relevant sector expertise to the acquisition, with a track record in industrial and aftermarket businesses through current and past investments including RENK Group, Trench Group, and FairWind. The transaction aligns with Triton’s focus on mission-critical goods and services across its core Industrial Tech sector, supported by one of Europe’s largest value acceleration teams.
KEY QUOTES:
“I would like to express my sincere thanks to Carlyle for the trust and support they have provided in positioning Flender to be a market leader. I am also pleased to again have a strong partner in Triton, with whom we can further advance our growth ambitions. Their high level of commitment throughout the process, combined with their strong network and extensive experience, gives me great confidence that this is the right next step for Flender.”
Andreas Evertz, Chief Executive Officer, Flender
“In initially carving out Flender, we saw an opportunity to support a market-leading business through its transition to a successful standalone company. During our partnership, the business grew internationally, repositioned itself as a service champion, and reinforced its leadership position across wind and industrial drive technology. We believe Flender is well-positioned for further success.”
Willi Westenberger, Managing Director, Carlyle Europe Partners, and Janine Feng, Vice Chair, Carlyle Asia
