Augsburg, February 11, 2025 – RENK Group AG, a leading provider of propulsion solutions for military and civilian applications, and KNDS N.V are pleased to announce KNDS has exercised the option to increase the shareholding in RENK from 6.7% to 25.1%, marking a new phase in their strategic partnership. The completion of the transaction will subject to merger control and other regulatory approvals.
The exercise of this option underscores the commitment of both companies to deepen their cooperation, to leverage their combined expertise, foster innovation, and enhance value creation for their stakeholders whilst ensuring that the RENK Group AG retains its role as an independent leading provider for vehicle mobility solutions to their global platform customers.
“The commitment of KNDS will have a lasting impact on our cooperation and strengthen our role as a leading manufacturer of mission-critical propulsion solutions in various military end markets," said Dr Alexander Sagel, CEO of RENK Group AG.
“At KNDS, we have strong confidence in RENK and its management. With this step, we are reaffirming our commitment to a long-term cooperation, with an independent and highly reliable partner,” said Philippe Balducchi, CEO of KNDS N.V.
About the RENK Group AG
Headquartered in Augsburg, Germany, RENK Group AG is a globally leading manufacturer of mission-critical propulsion solutions across diverse military and civil end markets. Our product portfolio includes gear units, transmissions, power-packs, hybrid propulsion systems, suspension systems, slide bearings, couplings & clutches and test systems. With this broad product portfolio RENK Group AG serves, in particular, customers in industries for military vehicles, naval, civil marine, and industrial applications focused on energy. In the fiscal year 2023, RENK Group AG generated revenue of EUR 926 million. RENK Group AG is listed on the Frankfurt Stock Exchange since February 7, 2024 and is a member of the SDAX since May 9, 2024.
Disclaimer
This Press Release contains forward-looking statements that are based on plans, expectations, estimates and projections of the management of RENK Group as at the date of this Press Release. These plans, expectations, estimates and projections depend on a variety of assumptions and are subject to unforeseeable events, uncertainties, known and unknown risks as well as other factors that may cause actual results or the actual financial situation, development or performance to differ from those expressed or implied in the forward-looking statements. RENK Group does not assume any obligation to update the forward-looking statements or make adjustments to them to reflect events or developments occurring after the date of this Press Release unless obliged by statutory law.
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