Milbank LLP has advised global investment firm Carlyle on the sale of Flender, a global market leader in mechanical drive technology, to Triton Fund 6 advised by Triton Partners. Details of the transaction were not disclosed. The transaction is subject to customary regulatory approvals and is expected to close in Q4 2026.
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. Milbank has also advised Carlyle on this acquisition.
Carlyle 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. Carlyle employs more than 2,500 people in 28 offices across four continents. As of March 31, 2026, Carlyle had approximately USD 475 billion in total assets under management.
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. Flender employs more than 8,000 people globally. The company is headquartered in Bocholt, Germany.
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.
The Milbank team that advised Carlyle on this transaction was led by partner Norbert Rieger (Corporate/M&A, Munich) and included partners Philipp Klöckner (Capital Markets, Frankfurt), Moritz Lichtenegger (Antitrust), Rolf Füger (Tax, both Munich) and Jan Häller (Corporate/M&A, Frankfurt), special counsel Karoline König (Capital Markets), Andrea Eggenstein (Corporate/M&A, both Frankfurt) and Jennifer Lang (Corporate/M&A, New York), associates Julian Jaschinski, Lea-Marie Weischede, Felix Wild, Maximilian Hirschfeld, Lucas Stumpf (all Corporate/M&A, all Munich), Christian Kolb, Philip Falk, Steven Buschle, Jacob Knieler (all Corporate/M&A, all Frankfurt), Mathias Menzel (Finance), Julia Röhrer, Martin Juhasz (both Antitrust), Arne Hammerich, Jil Windau, Sven Leber (all Tax, all Munich), Joshua Rosenberg, Ari Gilberg (both Corporate, New York), Catriona Mather, Drew MacDonald (both Corporate, London), Shirley Ureña (Executive Compensation and Employee Benefits, New York) as well as transaction lawyer Aisha Strohal (Antitrust, Munich).
