AEQUITA Acquires Rheinmetall's Power Systems Division

Munich, June 3, 2026 — AEQUITA SE & Co. KGaA, a global industrial group headquartered in Munich, Germany, has signed a final agreement to acquire the Power Systems division from Rheinmetall AG (FWB: RHM).

Power Systems provides mobility solutions for customers in the automotive and industrial sectors and holds a strong position in the independent aftermarket. Under established brands such as Pierburg, Kolbenschmidt, and Motorservice, it employs approximately 6,250 people globally and generates annual revenue of around 2 billion euros.

Following a strategic portfolio review, Rheinmetall conducted a competitive bidding process involving multiple prominent investors. As a result, AEQUITA was selected as the optimal partner due to its deep expertise in the automotive sector, its track record in carve-out transactions, and a clear industrial strategy for Power Systems.

This transaction has received broad support from key stakeholders, reflecting high confidence in AEQUITA's long-term investment approach and operational capabilities.

Armin Papperger, CEO of Rheinmetall AG, commented: 'Our goal has been to entrust our civil business to the best owner. In this regard, we believe we have found an excellent partner in AEQUITA. As an internationally active industrial investment group, AEQUITA combines extensive experience in the industrial and automotive sectors with entrepreneurship, transformation expertise, and a long-term perspective.'

Marcus Gerlach, Chief Purchasing Officer at Rheinmetall AG, stated: 'AEQUITA is the ideal partner to collaborate with the Power Systems management team to steadily drive the execution of previously developed strategies and ensure the long-term market success of the Kolbenschmidt and Pierburg brands.'

Dr.-Ing. Axel Geuer, Chairman and Co-CEO of AEQUITA, said: 'We are very honored that Rheinmetall has selected AEQUITA as the new owner of its Power Systems business. This acquisition is a highly attractive addition to our automotive portfolio, and we expect the division's revenue to reach approximately 5 billion euros in the future. We are committed to actively supporting the business to realize its long-term and sustainable growth. We will also work to achieve synergies within our automotive portfolio.'

The transaction is expected to be completed in the fourth quarter of 2026, subject to regulatory approval and the satisfaction of customary closing conditions.