BRUSSELS (dpa-AFX) - Knorr-Bremse AG (KNBHF.PK, KNRRY.PK, KBX.DE), a German maker of braking systems for rail and commercial vehicles, said that it has signed a deal with OpenGate Capital to sell Merak, a heating, ventilation, and air conditioning (HVAC) business.
OpenGate Capital will buy all of Merak's business activities, primarily located in Europe, North America, China, and Australia.
The transaction, to be closed by the end of 2026, is expected to have a positive impact on the operating EBIT margin of the seller.
The sale will allow Knorr-Bremse to focus more on its core technological competencies, profit growth, and sustainable economic success.
Headquartered in Spain, Merak is projected to post revenue of around EUR 360 million for fiscal 2026.
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