#Fleets

Bain Capital Acquires 51% Stake in Volkswagen's Everllence Division

Volkswagen Group agreed to sell a 51 percent stake in Everllence, its marine diesel engine division, to Bain Capital for approximately $8.4 billion in a leveraged buyout. The company, formerly known as MAN Energy Solutions, generates about $5 billion in annual revenue and maintains a book value of $3.9 billion. Volkswagen will retain the remaining 49 percent stake in the medium term.