Triton Partners to acquire Flender from Carlyle

Bocholt, Germany – 03 June 2026 – Global investment firm Carlyle (NASDAQ: CG) today announced that it has agreed to sell Flender, a global market leader in mechanical drive technology, to Triton Fund 6 advised by Triton Partners (“Triton Partners”). Terms of the transaction were not disclosed. The transaction is subject to customary regulatory approvals and is expected to close in Q4 2026.

Headquartered in Bocholt, Germany, and 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. Through its differentiated technology, engineering expertise and global footprint, Flender supports customers across industrial and renewable energy markets worldwide.

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, and further enhanced its international footprint and manufacturing platform.

Triton Partners has 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 in the industry. The wind and the broader energy value chain as well as industrial power transmission markets are well known to Triton Partners through current and past investments, including RENK Group, Trench Group and FairWind.

Andreas Evertz, CEO of Flender, said: “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, said: "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, with our Europe and Asia teams working in close alignment to support management in driving Flender's growth. During our partnership, the business grew internationally, including in China and India, repositioned itself as a service champion, and reinforced its leadership position across wind and industrial drive technology. We thank Andreas, the management team, and employees for their partnership and believe Flender is well-positioned for further success.”

Claus von Hermann, Fund Managing Partner & Co-Head of Triton Mid-Market, and Jaime Legeren, Investment Advisory Professional at Triton Partners, said: “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 support Flender’s next step of its growth journey.”

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About Flender
Flender is a leading, tech-enabled provider for drivetrain solutions, globally supplying highest quality, performance, and innovation for more than 125 years. Flender offers a wide range of gear units, couplings, generators, and associated digitally enabled lifecycle services across various end markets. The two product brands “Flender” and “Winergy” focus on key industries such as wind energy, minerals and mining, cement, power generation, plastic and rubber, marine and metals. With efficient drivetrain solutions and a strong CSR focus, Flender is the partner of choice for a sustainable future. The renowned sustainability rating by EcoVadis ranks Flender among the top 1 percent of the most sustainable companies worldwide. Flender employs more than 8,000 people globally. The company is headquartered in Bocholt, Germany. For more information, visit www.flender.com.

About Carlyle
Carlyle (NASDAQ: CG) is a global investment firm with deep industry expertise that deploys private capital across three business segments: Global Private Equity, Global Credit, and Carlyle AlpInvest. With $475 billion of assets under management as of March 31, 2026, Carlyle’s purpose is to invest wisely and create value on behalf of its investors, portfolio companies, and the communities in which we live and invest. Carlyle employs more than 2,500 people in 28 offices across four continents. Further information is available at www.carlyle.com. Follow Carlyle on X @OneCarlyle and LinkedIn at The Carlyle Group.

About Triton
Founded in 1997 and owned by its partners, Triton Partners is a leading European mid-market sector-specialist investor. Triton Partners focuses on investing in businesses that provide mission critical goods and services in its three core sectors of Business Services, Industrial Tech, and Healthcare.

Triton Partners has over 150 investment professionals and value creation experts across eleven offices and invests through three complementary “All Weather” strategies: Mid-Market Private Equity, Smaller Mid-Cap Private Equity, and Opportunistic Credit.

Further information is available at https://www.triton-partners.com/.

Media Contacts:

Carlyle
Europe: Charlie Bristow, +44 7384 513568, charlie.bristow@carlyle.com
Asia: Lonna Leong, +852 9023 1157, lonna.leong@carlyle.com

Triton
media@triton-partners.com

Flender
Doris Bush, +49 152 54718127, doris.bush@flender.com
Tobias van der Linde, +49 174 2415434, tobias.vanderlinde@flender.com