The key facts

  • In 2025, US deals with German industrial companies reached ~$29.5 billion (PitchBook); as of August 19, 2026 — $23.9 billion
  • Of 7,861 companies in Germany under foreign ownership, 1,750 belong to investors from the US (DDW)
  • Direct investment from the US into Germany fell in 2025 to €11.8 billion — almost 44% less than in 2024 (Bundesbank)

American interest in German family companies is growing

Traditional German family companies and small and medium-sized businesses are increasingly passing into the hands of American companies and investors. Well-known examples include Birkenstock, Viessmann, Linde and ebm-papst. According to financial data provider PitchBook, in 2025 investors from the US took part in 76 deals to acquire and invest in German industrial and manufacturing companies with a total value of about $29.5 billion (€26.3 billion) — almost twice the 2022 figure. As of August 19, 2026, the volume stood at $23.9 billion.

Major deals of recent years

In August 2026, the electric motor and fan manufacturer ebm-papst from Mulfingen was bought by the American company Madison Air for $5.4 billion. In June, the Augsburg-based company Everllence (formerly MAN Energy Solutions) sold a 51% stake to the investment firm Bain Capital. Separately, PwC in its Destination Germany report highlighted the purchase of BASF Coatings by the investment firm Carlyle in partnership with Qatar Investment Authority for approximately €7.7 billion: the deal was concluded on October 26, 2025 and closed on June 30, 2026.

Why owners sell and buyers come

Camar-Ahmad Albrecht-Mahmud of Veracity Capital Investments told DW that American investors' interest in German companies persists: many of them are highly specialized, have strong customer relationships and deep technical knowledge, having held strong positions in their niches for decades. At the same time, many owners reach an age when they begin to think about selling, and often there is no successor in the family — this brings to market companies that were not available for purchase a few years ago. According to him, the relatively low valuations of German companies, especially in the small and medium-sized business segment, compared with the US also make purchases attractive for international buyers.

The scale of foreign ownership

According to the Die Deutsche Wirtschaft (DDW) network, which specializes in medium-sized and family businesses, no country owns more German companies than the US: of 7,861 companies in the 'German Companies Under Foreign Ownership' database, 1,750 currently belong to American investors. PwC notes that the number of takeover and equity investment deals has not grown, but their financial volume has increased noticeably.

Contradiction with investment statistics

At first glance, the growth in the number of American deals does not align with the decline in investment flows from the US to Germany. According to the Bundesbank, in 2025 significantly less investment capital came from the US to Germany than a year earlier: direct foreign investment into Germany as a whole grew from €57.4 billion in 2024 to €86.1 billion in 2025, however investment from the US amounted to only €11.8 billion — almost 44% less than in 2024. Investment from the UK, by contrast, grew to approximately €26 billion. Albrecht-Mahmud believes the trend continues, although not necessarily in the form of annual growth in the number of deals: overall interest in strong industrial Mittelstand companies remains high.

Sentiment of American business in Germany

According to a recent survey by the American Chamber of Commerce in Germany, about 62% of American companies operating in the country expect an improvement in business conditions over the next three to four years. About 52% plan to expand operations in Germany — compared with 49% in 2024.