Volkswagen sells 51% stake in Everllence to Bain Capital

Volkswagen Group has reached an exclusive agreement with investment firm Bain Capital to sell a 51% stake in Everllence (formerly MAN Energy Solutions) in a leveraged buyout valued at approximately 7.4 billion euros. Volkswagen intends to retain a 49% stake in the long term.

The deal includes guarantees for the continuity of Everllence's German sites in Augsburg, Oberhausen, Berlin, Hamburg, and Ravensburg until at least the end of 2030, with no forced redundancies during this period. Under the leadership of CEO Uwe Lauber, the company aims to accelerate growth in maritime transport, energy, and data centers by focusing on alternative fuels such as methanol, ammonia, and hydrogen, as well as naval electrification.

In a recent technical milestone, Everllence's PrimeServ division completed a dual-fuel methanol conversion for the main engine of the container ship Seaspan Yangtze at the COSCO Shipping Heavy Industry shipyard in Shanghai. This vessel is the first of five planned retrofits for the German shipping company Hapag-Lloyd.