At what enterprise value was DUAGON acquired in 2025?

During the acquisition of DUAGON by KNORR-BREMSE in 2025, the transaction's Enterprise Value is estimated to be in the range of 500M - 1.5b EUR.

What was the EV/EBITDA of DUAGON when it was acquired by KNORR-BREMSE?

The estimated EV/EBITDA multiple for DUAGON is in the range of 10x - 18x.

When was DUAGON acquired by KNORR-BREMSE?

DUAGON was acquired by KNORR-BREMSE in 2025.

What was the revenue of DUAGON at the time of the deal?

The revenue of DUAGON at the time of the deal is estimated to be in the range of 100M - 200M EUR.

What was the EBITDA of DUAGON during the acquisition?

DUAGON's EBITDA is estimated to be in the range of 25M - 50M EUR.

How is the data for the DUAGON acquisition sourced and is it reliable?

Mynth data is contributed by a professional community of M&A and Private Equity experts. Each transaction, including the DUAGON deal, is systematically cross-verified by our team using private deal documents and official sources. You can also find the official press release for this transaction here: https://www.eqs-news.com/news/ad-hoc/knorr-bremse-aktiengesellschaft-knorr-bremse-acquires-duagon-group-enhancing-growth-of-global-rail-business/a4ca3361-659c-4713-b22b-c2b33d823fed_en

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Home Database Industry & ManufacturingDUAGON

09/2025

DUAGON acquired by KNORR-BREMSE

SWITZERLAND Industrial Equipment / Components / Electrical Equipment EV 500M - 1.5b EUR

Context

This transaction represents a strategic corporate acquisition wherein Knorr-Bremse agrees to fully acquire duagon Group. The operation effectively facilitates a complete exit for the historical private equity sponsor, Deutsche Beteiligungs AG (DBAG), from the target's capital structure. Financed entirely through the acquirer's available liquidity and existing credit lines, the deal also includes a potential performance-based earn-out component. The primary strategic rationale underpinning this consolidation is to highly complement Knorr-Bremse's existing safety electronics division with duagon Group's specialized rail signaling technology. This powerful integration is designed to drastically accelerate international growth, generate massive operational and revenue synergies, and solidify the acquirer's undisputed leadership in the global rail market.

DUAGON, which reported an EBITDA margin of in 2026, is valued in this transaction at an EV/EBITDA multiple of , representing a to the average currently observed in the Industry & Manufacturing sector (11.6x).

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Target

Founded in 1995, Duagon Group is a leading global provider of hardware and software solutions for safety-critical applications in the rail industry. The company’s business model focuses on the development of communication, computing, and control technology for rolling stock and railway signaling. Its value proposition is centered on high-reliability electronics that ensure the safe operation of trains, including TCN (Train Communication Network) gateways and modular embedded computers. Strategically, the firm operates as a key technology partner for rail vehicle manufacturers, employing approximately 750 people across eight countries with a primary focus on the European market. Through its integrated hardware and software approach, duagon enables the digitalization and automation of rail transport systems, providing critical infrastructure for modern signaling technology.

Ent. Value

Equity Value

Multiples

EV / Revenue

EV / EBITDA

EV / EBIT

Historical Financials (EUR)

Year

Rev

EBITDA

EBIT

2026

2025

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REFERENCES

Valuation range: EV 500M - 1.5b EUR

Revenue range: 100M - 200M EUR

EBITDA range: 25M - 50M EUR

Note: This page provides detailed data on a private equity M&A transaction. Detailed and exact financial metrics for the acquisition of DUAGON by KNORR-BREMSE are reserved for mynth community members. Register for free to unlock full data.

Authors: This transaction was contributed by a verified mynth contributor and cross-checked against available transaction documents and official company communications.

Target: duagon

Acquirer: knorr-bremse