By Claire Ruckin | Updated on Jun 12, 2026 at 11:50 AM
Deutsche Bank AG and Goldman Sachs Group Inc. are among banks that have lined up around €1.7 billion ($1.97 billion) of debt financing that will back Triton Partners’ acquisition of German gearbox-maker Flender GmbH.
Bank of America Corp. and Morgan Stanley are also on the roster of top lenders for the deal, according to people familiar with the matter, as banks vie to finance leveraged buyouts, among the most lucrative business in investment banking.
Triton agreed to acquire Flender, a provider of mechanical and electrical-drive technology, from Carlyle Group Inc., in a deal announced this month.
The debt will be structured as leveraged loans, and the banks will begin initial marketing to institutional investors toward the end of June, ahead of a general syndication process, the people said, asking not to be identified because the deal is private.
Spokespeople for Triton, Deutsche Bank and Morgan Stanley declined to comment. Representatives of Flender, Goldman and Bank of America didn’t immediately respond to requests for comment.
The Flender financing is one of a growing number of M&A situations this year attracting investors eager to put cash to work, following years of lackluster activity. Money managers’ need to allocate capital to the handful of new-money deals is working to the benefit of borrowers, driving down pricing on the debt.
Read more: Buyout Bankers Go Big on Debt Pre-Sales to Thwart Fickle Markets