Global investment firm Carlyle has announced that it has agreed to sell Flender, a global market leader in mechanical drive technology, to Triton Fund 6, advised by Triton Partners. The transaction is subject to customary regulatory approvals and is expected to close in Q4 2026. Terms of the transaction were not disclosed.
A Leader in Drive Technology
Headquartered in Bocholt, Germany, with over 125 years of engineering heritage, Flender is a leading supplier of gearboxes, couplings, and generators for a broad range of industrial and wind power applications. With more than 8,000 employees across 34 countries, Flender operates a global manufacturing, assembly, and service network and holds a leading position in drivetrain technology for wind turbines. Its differentiated technology, engineering expertise, and global footprint support customers across industrial and renewable energy markets worldwide.
Carlyle’s Partnership and Value Creation
Since carving out Flender from Siemens in 2021, Carlyle has partnered closely with management to lead the company’s successful transition to an independent standalone business. During this period, Flender:
- Strengthened its leadership position in wind and industrial drive technology
- Expanded its global service network
- Invested in innovation and operational capabilities
- Enhanced its international footprint and manufacturing platform, including in China and India
Triton Partners’ Strategic Fit
Triton Partners brings many years of experience in applying its proven in-depth value creation approach across companies in the industrial tech sector, supported by the Accelerator Unit, one of Europe’s largest value acceleration teams. The wind and broader energy value chain, as well as industrial power transmission markets, are well known to Triton through current and past investments, including RENK Group, Trench Group, and FairWind.
Leadership Perspectives
Andreas Evertz, CEO of Flender, expressed confidence in the transition: “I would like to express my sincere thanks to Carlyle for the trust and support they have provided in positioning Flender to be a market leader. I am also pleased to again have a strong partner in Triton, with whom we can further advance our growth ambitions. Their high level of commitment throughout the process, combined with their strong network and extensive experience, gives me great confidence that this is the right next step for Flender.”
Willi Westenberger, a Managing Director on the Carlyle Europe Partners investment advisory team, and Janine Feng, Vice Chair of Carlyle Asia, commented: “In initially carving out Flender, we saw an opportunity to support a market-leading business through its transition to a successful standalone company. This investment is a strong example of collaboration across Carlyle’s global platform… During our partnership, the business grew internationally, repositioned itself as a service champion, and reinforced its leadership position across wind and industrial drive technology.”
Claus von Hermann, Fund Managing Partner & Co-Head of Triton Mid-Market, and Jaime Legeren, Investment Advisory Professional at Triton Partners, added: “Flender is at the core of Triton Partners’ investment strategy. The company operates in a sector where Triton has strong expertise and a successful track record in similar industrial and aftermarket businesses. We look forward to partnering with management and employees and to supporting Flender’s next step of its growth journey.”
Looking Ahead
This ownership transition marks a new chapter for Flender, building on its strong market position and global footprint. With Triton Partners’ sector expertise and value creation approach, Flender is well-positioned to continue its growth trajectory in industrial and renewable energy markets worldwide.
