Dellner: EQT Sells Train Couplers Leader to Wabtec
Deal News | Mar 18, 2025 | PR Newswire Cision EQT
EQT, a leading private equity firm, has reached a definitive agreement to divest Dellner Couplers, a prominent provider of train connection systems, to Wabtec Corporation for approximately EUR 890 million. Dellner, which has grown from a family-owned business in Sweden to a global leader in rail safety systems, has fortified its market standing during EQT's ownership since 2019. The company has enhanced its product range, acquired competitors, and emphasized sustainability, positioning it for ongoing growth. Dellner's integration into Wabtec is expected to leverage its capabilities further and ensure future innovations for rail industry clients. This transaction awaits customary regulatory approvals and stands as a tribute to Dellner's commitment to sustainability and quality under EQT's guidance. EQT was advised by a host of financial and legal experts, including J.P. Morgan, Milbank, Vinge, and EY.
Sectors
- Private Equity
- Railway Equipment Manufacturing
- Mergers and Acquisitions Advisory
Geography
- Sweden – Dellner Couplers was founded in Sweden and has maintained significant operations there, contributing to its characterization as a Swedish firm.
- Global – Dellner Couplers operates globally, with a strong presence in Europe, North America, and Asia, highlighting its international influence in the rail industry.
Industry
- Private Equity – EQT, a key participant in this article, is a private equity firm managing investments and divestments of portfolio companies like Dellner Couplers.
- Railway Equipment Manufacturing – Dellner Couplers, the target of the transaction, operates within the railway equipment manufacturing sector, providing critical safety components and systems.
- Mergers and Acquisitions Advisory – The involvement of J.P. Morgan, Milbank, Vinge, and EY as advisors indicates significant M&A activities relevant within this sector.
Financials
- EUR 890 million – The transaction value for Dellner Couplers agreed upon by EQT and Wabtec.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| EQT VIII fund | Selling Company | Company | A private equity fund managed by EQT, which is selling Dellner Couplers. |
| Dellner Couplers | Target Company | Company | A global leader in train connection systems, providing essential components and services for the rail industry. |
| Wabtec Corporation | Bidding Company | Company | An organization purchasing Dellner Couplers, focusing on enhancing its portfolio in rail technologies. |
| Klaus Deller | Chairman, Industrial Board | Person | Chairs the board overseeing Dellner's strategic direction and growth. |
| Nils Ketter | Partner, EQT Private Equity | Person | Part of the EQT team managing the divestment process of Dellner Couplers. |
| Fredric Håkansson | CEO of Dellner | Person | Chief Executive Officer expressing gratitude towards EQT for supporting Dellner's transformational progress. |
| J.P. Morgan Securities Plc | Financial Advisor | Company | Advised EQT during the sale of Dellner Couplers. |
| Milbank | Legal Advisor | Company | Provided legal counsel in the transaction. |
| Vinge | Legal Advisor | Company | Played a legal advisory role in the deal. |
| EY | Financial Advisor | Company | Involved in advising EQT on financial aspects of the transaction. |