Power and Place – A Regulatory Guide to Data Centre Developments in Europe
20 July 2026
Knorr-Bremse signed an agreement with OpenGate Capital to sell its global HVAC (heating, ventilation, and air conditioning) business unit, Merak.
Merak is headquartered in Getafe, near Madrid, and is expected to generate revenue of approximately 360 million euros for the 2026 fiscal year. Financial details of the transaction have not been disclosed.
The transaction involves OpenGate Capital acquiring all of Merak’s business activities and its approximately 1,500 employees, who are primarily located in Europe, North America, China, and Australia.
The closing is expected by the end of calendar year 2026.
Hengeler Mueller advised Knorr-Bremse comprehensively on the carve-out of its HVAC business and its subsequent sale to OpenGate Capital.
Hengeler Mueller team for Knorr-Bremse
Corporate/M&A: Daniel Wiegand (lead), Simon Link (both partner), Sophie Zeidler, Julian Pröbstl, Robin Reichel (all associate, all Munich),
Financing: Henning Hilke (partner, Frankfurt), Lukas Heppekausen (associate, London),
Banking Regulatory: Christian Schmies (partner), Natalie-Dilan Yerlikaya (senior associate, both Frankfurt),
Public Law/FDI: Vera Jungkind (partner), Barbara Boytinck (senior associate, both Düsseldorf),
Antitrust: Markus Röhrig (partner, Brussels), Anja Balitzki (counsel, Düsseldorf),
IP/IT: Matthias Rothkopf (partner), David Rüther (associate, both Düsseldorf),
Tax: Sebastian Heinrichs (counsel), Ann-Christin Wolf (associate, both Frankfurt).
