Madison Air Solutions to Buy ebm-papst in $5.8B Deal, Expanding Global Airflow Reach

Madison Air Solutions (MAIR) shares fell 16% week-to-date after announcing a $5.4B acquisition of German firm ebm-papst. The deal, expected to close by year-end, will be funded by cash, debt, and equity. CEO Jill Wyatt highlighted the strategic benefits, but investors reacted negatively to increased leverage and potential dilution.

Madison Air Solutions (MAIR) shares fell about 4% after the company said it will acquire Germany-based ebm-papst. The enterprise value is $5.4 billion, or $5.0 billion net of expected future tax savings, according to the company. MAIR was down 4.28% to $29.94 on the NYSE.

Madison Air Solutions said it will acquire Germany’s ebm-papst in a $5.4 billion deal, expanding its air quality and ventilation business. According to Madison, ebm-papst’s three shareholder families will transfer their stakes. ebm-papst will keep its headquarters in Mulfingen and key R&D and production operations.

Madison Air Solutions (NYSE: MAIR) agreed to acquire ebm-papst for an effective enterprise purchase price of $5.0 billion net of future tax savings, valuing it at 14.6x forecast 2026 adjusted EBITDA. Madison Air expects about $160 million annual run-rate synergies by year three and accretion to adjusted EPS in the first full year after closing. ebm-papst is forecast to generate ~$2.8 billion revenue and ~$343 million adjusted EBITDA in 2026.

Madison Air Solutions Corp (MAIR) filed an SEC Form 8-K — Results of Operations and Financial Condition. EX-99.1 2 a20262q8kex-991.htm EX-99.1 Document Exhibit 99.1 Madison Air Reports Second Quarter 2026 Results • Backlog of $2,868.4 million up 133% year-over-year and orders up 45% on a combined basis*** • Net sales of $991.3 million, up 21%, including up 14% on a pro forma basis**

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