EQT to Sell Dellner Couplers to Wabtec
Deal News | Mar 18, 2025 | EQT
EQT has announced that its EQT VIII fund has signed a definitive agreement to sell Dellner Couplers, a leading train connection systems provider, to Wabtec Corporation for approximately EUR 890 million. Dellner, founded in 1941 in Sweden, has grown significantly from a family-owned business to a global leader in the rail industry, with a notable presence in Europe, North America, and Asia. Since EQT acquired Dellner in 2019, the company has enhanced its commercial capabilities, expanded its product offerings, and reinforced its focus on sustainability. The planned sale to Wabtec, a significant player in the transportation sector, is expected to facilitate Dellner's continued innovation and global expansion. This transaction underscores the strategic direction for greener mobility through rail transportation. J.P. Morgan Securities Plc, Milbank, Vinge, and EY advised EQT in this deal. The transaction's completion is contingent upon customary conditions and regulatory approvals.
Sectors
- Rail Transportation
- Private Equity
- Manufacturing
Geography
- Sweden – Dellner Couplers is based in Falun, Sweden, and was originally founded there.
- Global – Dellner Couplers has a strong presence across Europe, North America, and Asia, indicating its global reach. EQT also manages a global portfolio.
Industry
- Rail Transportation – Dellner Couplers is a leader in train connection systems, which are crucial for rail transportation industries.
- Private Equity – EQT is a private equity firm actively managing investments and overseeing the sale of its portfolio company, Dellner Couplers.
- Manufacturing – Dellner Couplers manufactures safety-critical components for the rail industry, such as couplers and gangways.
Financials
- EUR 890 million – Approximate transaction value for the sale of Dellner Couplers to Wabtec.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| EQT | Seller | Company | EQT is a global investment organization managing assets across Private Capital and Real Assets. |
| Dellner Couplers | Target company | Company | Dellner Couplers is a leading provider of train connection systems founded in 1941 in Sweden. |
| Wabtec Corporation | Buyer | Company | Wabtec is a global provider of equipment, systems, digital solutions, and value-added services for freight and transit rail. |
| J.P. Morgan Securities Plc | Financial Advisor | Company | Provided financial advisory services to EQT for the transaction. |
| Milbank | Legal Advisor | Company | Provided legal advisory services to EQT for the transaction. |
| Vinge | Legal Advisor | Company | Provided legal advisory services to EQT for the transaction. |
| EY | Consultant | Company | Advised EQT on aspects of the transaction. |
| Fredric Hkansson | CEO of Dellner | Person | |
| Nils Ketter | Partner, EQT Private Equity advisory team | Person |