German automotive giant Volkswagen has agreed to sell a controlling stake in its Everllence division (formerly MAN Energy Solutions) to U.S. private investment firm Bain Capital. The transaction is valued at approximately €7.4 billion ($8.4 billion) and is expected to become one of Europe’s largest industrial asset sales of 2026.
Under the terms of the agreement, Bain Capital will acquire a 51% stake in Everllence, while Volkswagen will retain the remaining 49%, remaining a major shareholder in the company. Bain Capital outbid several other investment firms, including CVC and EQT, the latter of which participated in the bidding together with Volkswagen’s largest shareholder, Porsche SE, and the Qatar Investment Authority.
The divestment forms part of Volkswagen’s strategy to unlock capital as the company undergoes a broad restructuring program and cost-cutting measures across its automotive business. The proceeds will be used to strengthen the group’s core operations and support future strategic investments.
Volkswagen CEO Oliver Blume said that a more flexible ownership structure would enable Everllence to accelerate its expansion in high-growth markets, including the energy sector, shipping, and data center infrastructure, while allowing Volkswagen to focus on its core automotive business.
Everllence specializes in manufacturing large diesel engines for the maritime and energy industries. At the same time, the company’s management and investors see significant growth potential in equipment for data centers, where demand is rapidly increasing due to the expansion of artificial intelligence technologies. This includes power generators and energy systems that ensure the uninterrupted operation of data centers.
The transaction reflects growing investor interest in companies operating at the intersection of energy and digital infrastructure. As the global artificial intelligence boom continues, demand for new data centers and additional power capacity is rising, creating new opportunities for manufacturers of industrial equipment.
The deal is expected to close by the end of 2026, subject to regulatory approvals and consultations with employee representatives. Under the agreement, Everllence’s production facilities in Augsburg, Oberhausen, Berlin, Hamburg, and Ravensburg will continue operating at least until the end of 2030.
