Madison Air to Acquire ebm-papst for €4.78B Enterprise Value, Backed by €1.3B Equity Commitment
MAIR is trading near its 52-week low of $27.38 (13% above the low).
Summary
Madison Air Solutions agreed to acquire ebm-papst for €4.78 billion enterprise value, backed by a €1.3 billion equity commitment from its chairman's entity and underwritten debt financing. The deal is expected to close by year-end 2026 and nearly doubles Madison Air's addressable market.
Key Events · M&A and Partnerships · MAIR
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Definitive Agreement Signed
Madison Air Solutions entered into a Sale and Purchase Agreement on August 15, 2026 to acquire ebm-papst for an enterprise purchase price of €4,775 million (approximately $5.4 billion).
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Purchase Price Structure
Base purchase price is €4,367 million, with interest accruing at 2.00% from July 1, 2026 to December 31, 2026 and 2.50% thereafter. Estimated cash payable at closing is approximately €4,412 million assuming a December 31, 2026 closing.
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Financing Secured
Madison Solutions LLC, an entity affiliated with Chairman Larry Gies, committed up to €1,300 million in equity backstop. UniCredit and Wells Fargo provided fully underwritten debt commitments. The acquisition is not subject to a financing condition.
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Break Fee and Termination Rights
A €250 million break fee is payable by Madison Air if the SPA is terminated by the sellers due to lapse of the long-stop date (August 31, 2027) or failure of closing conditions.
Analysis · MAIR · Technology
Madison Air Solutions signed a definitive agreement to acquire ebm-papst, a leading German airflow technology company, for an enterprise purchase price of €4,775 million (approximately $5.4 billion). The deal nearly doubles Madison Air's addressable market and is expected to be accretive to adjusted EPS in the first full year after closing. Financing includes a €1.3 billion equity backstop from Chairman Larry Gies' Madison Solutions LLC, plus fully underwritten debt commitments from UniCredit and Wells Fargo. The acquisition is not subject to a financing condition, but closing requires merger control, foreign investment control, and EU Foreign Subsidies Regulation clearances, with a long-stop date of August 31, 2027. A €250 million break fee is payable by Madison Air if the deal terminates under certain conditions. This is a transformative acquisition that significantly expands Madison Air's scale and product portfolio in the fast-growing data center cooling market.
How filings like this one have moved
In the 30 days to Nov 2, 2026, 49.5% of the 190 measured filings Wiseek scored 9 moved their stock by 5% or more by the next session's close. The median move was -0.29%. These are measured outcomes after filings of this importance, not a forecast for this one.
Measured one observation per ticker per day, after exclusions. Current figures: Filing Impact Tracker · open dataset
At the time of this filing, MAIR was trading at $30.98 on NYSE in the Technology sector, with a market capitalization of approximately $15.7B. The 52-week trading range was $27.38 to $44.50. This filing was assessed with positive market sentiment and an importance score of 9 out of 10.