Germany: The component producer has signed an agreement with the investment company OpenGate Capital to sell the Merak business unit, which focuses on the production and repair of HVAC systems.
The transaction is expected to be closed by the end of the year, following the necessary regulatory approvals. The value of the deal is not disclosed.
The disposal is part of Knorr-Bremse’s BOOST strategy programme, aiming to simplify business, reduce costs, grow profitability and sharpen competencies in the signalling market. The manufacturer anticipates that the sale of Merak will have a positive impact on the operating EBIT margin.
The transaction involves OpenGate Capital’s acquiring all of Merak’s facilities in Spain, Austria, Australia, China, the USA and the UK. Employing around 1,500 workers, Merak is one of the largest global suppliers of HVAC systems for railway vehicles. It specialises in the production, repair and modernisation of climate control equipment for trains, metro, trams and locomotives.
