At what enterprise value was FLENDER acquired in 2020?

During the acquisition of FLENDER by THE CARLYLE GROUP in 2020, the transaction's Enterprise Value is estimated to be in the range of 1b - 4b EUR.

What was the EV/EBITDA of FLENDER when it was acquired by THE CARLYLE GROUP?

The estimated EV/EBITDA multiple for FLENDER is in the range of 5x - 12x.

When was FLENDER acquired by THE CARLYLE GROUP?

FLENDER was acquired by THE CARLYLE GROUP in 2020.

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

The revenue of FLENDER at the time of the deal is estimated to be in the range of 1b - 3b EUR.

What was the EBITDA of FLENDER during the acquisition?

FLENDER's EBITDA is estimated to be in the range of 150M - 250M EUR.

How is the data for the FLENDER 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 FLENDER 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://press.siemens.com/global/en/pressrelease/flender-sale-closes-successfully

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Home Database Industry & ManufacturingFLENDER

10/2020

FLENDER acquired by THE CARLYLE GROUP

GERMANY Industrial Equipment / Special Machinery EV 1b - 4b EUR

Context

Global investment firm The Carlyle Group has reached a definitive agreement to acquire Flender GmbH from industrial conglomerate Siemens AG. Subject to customary regulatory clearances, this highly complex corporate carve-out will be funded through substantial equity commitments from Carlyle Europe Partners V (a €6.4 billion fund) and an affiliate of Carlyle Asia Partners V. The buyout perfectly executes Carlyle's established playbook of undertaking complex corporate carve-outs to engineer standalone, market-leading platforms. Leveraging a deep industrials track record (having deployed over $20 billion in the sector since inception) the financial sponsor intends to drive accelerated organic momentum through comprehensive operational and strategic enhancements, coupled with robust investments into the target's technology and service capabilities. A central pillar of the value-creation strategy is uniquely focused on capturing massive growth opportunities in Asia, leveraging Carlyle's local presence to solidify the company's competitive moat in the Chinese wind energy transition.

FLENDER, which reported an EBITDA margin of in 2020, 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

Flender is a German industrial supplier of mechanical drivetrain solutions for industrial and wind power applications. Positioned within critical infrastructure segments, the company designs and manufactures gear units, couplings, generators, and related lifecycle services. The group operates an integrated industrial model combining engineering, manufacturing, and a global service network. It serves structurally important end markets including wind energy, cement, mining, metals, and broader heavy industrial applications, with a strong exposure to the energy transition through wind turbine drivetrain systems. Flender maintains an international industrial footprint, structured around manufacturing, assembly, and service sites located notably in Europe (Germany, Italy), North America, China, and India, enabling close operational proximity to key global industrial and energy hubs. The company leverages long-standing engineering expertise and an industrial heritage built around high technical barriers and recurring demand for maintenance, replacement parts, and service activities.

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Other operations with FLENDER

List of similar M&A transactions (Date, Acquirer, Target, Country, Sub-sector)
Date	Acquirer	Target	Country	Sector
06/2026	TRITON PARTNERS	FLENDER	GERMANY	Special Machinery

REFERENCES

Valuation range: EV 1b - 4b EUR

Revenue range: 1b - 3b EUR

EBITDA range: 150M - 250M EUR

Note: This page provides detailed data on a private equity M&A transaction. Detailed and exact financial metrics for the acquisition of FLENDER by THE CARLYLE GROUP 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: flender

Acquirer: the carlyle group