Firm Matters
BackKhaitan & Co advised the Volkswagen Group, in connection with the India leg of the agreement to sell a majority stake in Everllence (formerly known as MAN Energy Solutions) to Bain Capital, a leading global private investment firm.
The transaction is subject to regulatory approvals and customary closing conditions.
Everllence is a globally leading developer and manufacturer of 2-stroke and 4-stroke marine and power engines and turbomachinery, forming part of the Volkswagen Group. The company generates revenue of approximately €5 billion, employs around 16,000 people across Europe, Asia, and the Americas, and holds leading positions across its principal businesses — serving customers in global shipping, naval defense, power generation, and industrial processing — supported by one of the sector's most extensive aftermarket service networks, spanning 140+ locations worldwide.
The transaction is structured as a carve-out from Volkswagen Group, which will retain a shareholding in the company and remain a long-term partner.
Deal Team
The core team consisted of Rabindra Jhunjhunwala (Partner), Kevin Shah (Partner), Rakshitha Naik (Principal Associate), Harshita Jajodia (Senior Associate), Manya Vipin Chugh (Associate) and Shraddha Mishra (Associate)
The deal was assisted by:
Employment, Labour & Benefits: Vinay Joy (Partner), Simran Sharma (Senior Associate) and Shaaryl Dsouza (Associate)
Intellectual Property: Shailendra Bhandare (Partner) and Vaishali Adhikari (Senior Associate)
Real Estate: Abhiraj Gandhi (Partner), Amruthavarshini (Counsel), Darshit Harshad Shah (Senior Associate) and Mukund Ullur Yadupathi (Consultant)
Data Privacy: Harsh Walia (Partner), Shobhit Chandra (Counsel), Khyati Goel (Senior Associate)
