US investors step up buyouts of German industrial and family firms

US investors have sharply increased acquisitions of German industrial and family-owned companies, driven by specialized technology, strong client relationships and a wave of owners seeking exits, market data and company deals from 2025–2026 show.

Major takeovers and deal statistics

Data compiled from deal trackers indicate that 76 takeovers and equity investments in German industrial and manufacturing firms involving US participation were completed in 2025. The total value of those transactions reached about $29.5 billion in 2025 — nearly double the level recorded in 2022 — and by August 19, 2026 an additional $23.9 billion in transactions had been registered.

High-profile examples underline the trend. In August 2026 the fan manufacturer ebm-papst, based in Mulfingen, was acquired for $5.4 billion by the US buyer Madison Air. In June 2026 the traditional Augsburg firm Everlens, formerly MAN Energy Solutions, saw a 51 percent stake bought by Bain Capital. Another large transaction was the sale of BASF Coatings to the US investment firm Carlyle in partnership with the Qatar Investment Authority; the takeover agreement was reached on October 26, 2025 and completed on June 30, 2026, with Carlyle’s commitment reported at €7.7 billion.

Independent registries show that US-owned firms already represent a large share of foreign ownership in Germany. In a database of foreign-owned German companies, 1,750 of 7,861 recorded firms are under US ownership.

Consultants and dealmakers point to several reasons for the buyers’ appetite. "The interest from US investors definitely still exists," said Samar-Ahmad Albrecht-Mahmud of Vereisity Capital Investment in Frankfurt am Main. He noted that many German industrial mid-sized companies are highly specialised, possess deep technical know-how and maintain long-standing customer ties — traits that make them attractive takeover targets. An additional pull factor is valuation: compared with some US peers, smaller German firms can appear modestly priced, making acquisitions more appealing.

Analysts also flag a seeming paradox: although deal values have risen, headline capital flows from the United States into Germany fell in 2025. Bundesbank figures show total foreign direct investment into Germany rose from €57.4 billion in 2024 to €86.1 billion in 2025, but US capital inflows fell to €11.8 billion in 2025 — about 44 percent lower than in 2024 — while UK investment climbed to roughly €26 billion. Experts explain that the trend toward larger, selective acquisitions can raise deal volumes without increasing the number of transactions or broad US capital inflows.

Surveys of US businesses in Germany point to continued expansion plans: an American Chamber of Commerce in Germany poll found 62 percent of respondents expect conditions to improve over the next three to four years, and 52 percent said they plan to increase their presence in Germany over that period (up from 49 percent in 2024).

Photo: press material from the event