EQT signed an agreement to sell Dellner Couplers, a leading provider of train connection systems, to Wabtec Corporation in a deal valuing the company at approximately €890m. 

The transaction, subject to regulatory approvals, marks EQT’s exit after a transformative five-year ownership period.

Founded in 1941 in Sweden, Dellner has grown into a major supplier of train couplers, gangways, dampers, and aftermarket services, with a strong presence across Europe, North America, and Asia. Since EQT’s acquisition in 2019, Dellner has strengthened its product portfolio, expanded its commercial operations, and improved its sustainability credentials. The acquisition of CAF MiiRA’s coupling business further reinforced its market leadership.

Nils Ketter, Partner at EQT, emphasized Dellner’s role in advancing rail transportation and sustainable mobility. “We are grateful to the Dellner team for their commitment to innovation and operational excellence. Wabtec provides a strong platform for Dellner to continue its growth and deliver value to customers,” he said.

Dellner CEO Fredric Håkansson acknowledged EQT’s support in modernizing the company and positioning it for long-term success. “This transaction is a testament to the dedication of our entire team. As part of Wabtec, we look forward to further enhancing our innovations and delivering best-in-class solutions worldwide,” he stated.

EQT was advised by J.P. Morgan Securities Plc, Milbank, Vinge, and EY. The deal underscores continued private equity activity in the transport and mobility sector, with firms capitalizing on infrastructure-related investments amid the ongoing shift towards greener mobility solutions.