Knorr-Bremse sells HVAC business Merak to OpenGate Capital

Knorr-Bremse agreed on 28 July 2026 to sell Merak, its worldwide business in heating, ventilation and air-conditioning systems for trains, to OpenGate Capital; the group is sharpening its portfolio under its BOOST programme and expects a tailwind for the EBIT margin of its Rail division and of the group as a whole. Merak, headquartered in Getafe near Madrid, is expected to generate about EUR 360 million in revenue in 2026; all of its business activities and some 1,500 employees, concentrated in Europe with sites in North America, China and Australia, are to transfer. The price is not disclosed, and closing, subject to customary conditions and regulatory approvals, is expected at the end of 2026. (LOK Report, 29 Jul 2026)