Industry: Family business EBM-Papst goes to US group for almost five billion euros
The fan specialist from Baden-Württemberg will soon belong to the US company Madison Air. Currently, around 6,000 people work for EBM-Papst in Germany.
EBM-Papst, a family-owned ventilation specialist based in Mulfingen, Germany, is being sold to US-listed company Madison Air for €4.775 billion. The deal values the company at €5.1 billion and must be approved by authorities. EBM-Papst's CEO, Klaus Geißdörfer, said Madison is an ideal partner to help the company expand its market leadership, particularly with better access to the US market.
Madison Air will finance the acquisition with equity and debt, including loans from Unicredit and Wells Fargo. If the deal falls through, EBM's owner families are entitled to €250 million in compensation.
Written by urgent.news from Handelsblatt's report — not a translation of it. Machine-written — may contain errors; check the original before relying on it.
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