EQT IV bought Tognum from Daimler AG in 2006.
Tognum is the largest global supplier of diesel engines for off-highway applications combining high power and speed. Application areas include marine, power generation, defense and industrial.
During EQT’s ownership, management of Tognum positioned and expanded the company successfully, and were given all opportunities to grow sales, earnings and also jobs to help the company on its course for long-term growth and prosperity. Tognum more than doubled its investments and improved its operations, its revenues and profits significantly with EQT as an owner.
EQT’s shares were partly sold in an IPO on the Frankfurt stock exchange in 2007 and the remaining were shares sold to the strategic investor Daimler in 2008.
Key events during EQT's ownership
- Increased and strengthened after sales business (service and spare parts)
- Increased strong positions in defense and marine
- Took advantage of strong growth in Asia, esp. power generation segment in China
- Expanded US business
- Vertically integrated within power generation segment and expanded gas engine business