Madison Air agrees to buy ebm-papst for EUR 4.8 billion enterprise price
On August 15, 2026, Madison Air and its German subsidiary signed an agreement to acquire ebm-papst from its German sellers, with an enterprise purchase price of EUR 4,775.0 million and an effective price of EUR 4,404.0 million after expected tax savings. The company expects closing by December 31, 2026, subject to regulatory clearances, and says the deal is not subject to a financing condition. The size of the purchase and its debt and equity funding plan matter to shareholders because they will change the company's balance sheet and leverage.
Key points
- Enterprise purchase price of EUR 4,775.0 million; effective price of EUR 4,404.0 million after EUR 371.0 million of expected future tax savings
- Estimated cash payable at closing of EUR 4,412.0 million, assuming a closing date of December 31, 2026
- Funding from cash on hand, debt and equity; debt commitments from UniCredit and Wells Fargo; Madison Solutions LLC, affiliated with chairman Larry Gies, committed up to EUR 1,300,000,000 in equity
- Break fee of EUR 250,000,000 payable by the purchaser in certain termination cases, including if the Long Stop Date of August 31, 2027 lapses
The filing
Written by AI on Nov 9, 2026, 11:48 AM ET, from this filing only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on August 17, 2026.
Briefs are written by AI from the filing text and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the AI's reading of the filing for shareholders, not a price forecast. Not investment advice.