Apollo Global Management and Bain Capital are among the private equity firms competing to acquire Continental’s ContiTech industrial unit, in a deal that could reach more than €4bn, Bloomberg reported.

Advent has teamed up with CVC Capital Partners to submit a joint bid, while Platinum Equity, KPS Capital Partners, and Clearlake Capital have also progressed to the next stage of the process.

The transaction is expected to be backed by approximately €2.5bn in debt financing, highlighting the scale of investor interest in the asset.

The sale represents a key step in Continental’s restructuring strategy, as the German automotive supplier seeks to streamline its operations amid challenging market conditions in Europe.

ContiTech manufactures industrial components including conveyor belts and air springs, serving a range of end markets beyond automotive.

The process has attracted significant private equity attention, reflecting growing interest in industrial assets that may benefit from technological transformation and automation.

Deliberations remain ongoing, and there is no certainty that a transaction will be completed.

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