By Christina Amann and Rachel More
June 24 (Reuters) – Bain Capital is set to acquire a majority stake in Volkswagen’s marine engine unit Everllence, beating out other private equity firms including one that had joined forces with the carmaker’s top shareholders, a source familiar with the matter said on Wednesday.
The deal is expected to be one of European industry’s biggest carve-outs this year, as Volkswagen seeks to free up cash at a time of deep cuts across the group’s automotive operations.
Bloomberg first reported on the deal. Sources have previously said Everllence was worth between €8 billion and €9 billion.
A Volkswagen spokesperson declined to comment. Bain did not immediately respond to a request for comment.
Bain was competing against CVC and EQT in the bidding race, the latter of which was part of a consortium with Porsche SE and Qatar.
Porsche SE holds 53.3% of voting rights in Volkswagen, while Qatar holds 17% via its sovereign wealth fund.
The business, formerly MAN Energy Solutions, makes diesel engines for the shipping industry but also sees growth potential in artificial intelligence through demand for generators to power data centres.
($1 = 0.8807 euros)
(Additional reporting by Ananya Palyekar in Bengaluru; Editing by Sahal Muhammed and David Gregorio)
By Christina Amann and Rachel More | Reuters | © Copyright Thomson Reuters 2026.
