Knorr-Bremse Divests Global Train Climate Control Business

Knorr-Bremse Aktiengesellschaft has entered into an agreement to sell its HVAC business, Merak, to OpenGate Capital. This move is part of Knorr-Bremse's strategy to focus on core technologies and drive profitable growth. The transaction, expected to conclude by the end of 2026, involves a revenue projection of approximately 360 million euros for Merak in 2026. The sale is anticipated to positively impact Knorr-Bremse's operating EBIT margin.

Merak, headquartered in Getafe, Spain, will transfer about 1,500 employees predominantly located in Europe, North America, China, and Australia, to OpenGate Capital. The deal is pending customary regulatory approvals. Perella Weinberg acted as Knorr-Bremse's financial adviser.