On August 15, 2026, Madison Air Solutions Corporation entered into a Sale and Purchase Agreement to acquire ebm-papst Mulfingen GmbH & Co. KGaA and its subsidiaries for an enterprise purchase price of EUR 4,775.0 million (approximately USD 5.4 billion). The transaction includes a locked-box mechanism with a base price of EUR 4,367.0 million plus interest, resulting in estimated cash consideration of approximately EUR 4,412.0 million at closing. Madison Air secured an equity commitment of up to EUR 1,300.0 million from Madison Solutions LLC and debt financing commitments from UniCredit and Wells Fargo. The acquisition is expected to close by December 31, 2026, subject to regulatory approvals including EU Foreign Subsidies Regulation clearance. Madison Air operates in the air quality solutions industry, providing HVAC/R products and services.
