Knorr-Bremse, one of the world’s largest suppliers of systems for the rail and commercial vehicle industries, has signed an agreement to sell its global rail air-conditioning (HVAC) division, Merak, to the investment fund OpenGate Capital.
The transaction forms part of the company’s BOOST strategy, through which the group is optimising its portfolio and focusing its activities on core technologies, profitable growth and sustainable development.
Merak, headquartered in Getafe, near Madrid, specialises in heating, ventilation and air-conditioning systems for railway rolling stock. For the 2026 financial year, the company estimates revenues of approximately EUR 360 million.
The transaction will be finalised this year
The agreement provides for the transfer of all Merak’s operations to OpenGate Capital, including the company’s approximately 1,500 employees, who are based primarily in Europe, North America, China and Australia.
According to Knorr-Bremse, the sale will help improve the operating EBIT margin of the rail division and, consequently, the group’s financial results.
Completion of the transaction is subject to the fulfilment of customary closing conditions and the obtaining of regulatory approvals, and is expected by the end of 2026.
Through this transaction, Knorr-Bremse is strengthening its portfolio as part of the strategic BOOST programme and is consistently focusing its activities on core technological competencies, profitable growth and sustainable economic success.
Merak is the global platform through which Knorr-Bremse develops and markets air-conditioning solutions for the railway industry. The company serves operators and train manufacturers worldwide, supplying both HVAC systems for new vehicles and modernisation, maintenance and technical support services throughout the entire service life of the rolling stock. The division has production and engineering operations on several continents, including Europe, North America, Asia and Australia.
Share on:
