Braking system specialist, Knorr-Bremse, has announced the sale of a supplier in the UK.
UK-based private equity fund, Rcapital Partners, is expected to purchase GT Emissions Systems, a supplier of emission control systems for diesel engines in on-highway commercial vehicles and off-highway vehicles.
The transaction is expected to close Q4 2024.
“For us, the sale of our GT Emissions Systems subsidiary represents the next critical progression in the optimisation of our truck division’s portfolio,” said Bernd Spies, member of the Knorr-Bremse AG Executive Board and responsible for the Commercial Vehicle Systems division.
“In future, we are going to concentrate even more strongly on our core competencies. In Rcapital Partners, we have found a buyer for GT Emissions Systems capable of excellently developing and fully leveraging the company’s potential.”
The global Engine Air portfolio of GT Emissions Systems comprises exhaust throttle and exhaust gas recirculation valves, among other things.
GT Emissions Systems’ sales in the 2023 fiscal year came to approximately €70 million.
In other news, the Supervisory Board of Knorr-Bremse has extended Spies’ contract.