(RTTNews) - RENK Group AG (R3NK.DE), a German manufacturer of transmissions, engines, hybrid drive systems, on Friday said its wholly owned subsidiary, RENK GmbH, entered into a binding agreement to acquire David Brown Defence.
The financial terms of the transaction were not disclosed.
The transaction is expected to close in the fourth quarter of 2026.
The company said the acquisition will strengthen its naval portfolio by providing access to major naval programs in the UK, Canada and Australia.
The acquisition is also expected to create operational and technological synergies and expand aftermarket business opportunities.
The acquisition will be completed through the purchase of shares in DB Defence Holdco SARL.
David Brown Defence is UK-based and specializes in high-precision gearboxes for the naval and land defense sectors.
RENK Group AG is currently trading 0.60% higher at EUR 47.58 on the XETRA.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
