Deutsche Bank AG and Goldman Sachs Group Inc. have secured €1.7 billion in debt to fund Triton Partners’ purchase of German gearbox maker Flender GmbH. Bank of America and Morgan Stanley also joined the lender lineup, underscoring how leveraged buyouts remain a top income source for investment banks. Triton agreed to acquire Flender from Carlyle earlier this month in June deal.

The financing will take the form of leveraged loans, with the banks planning to market the notes to institutional investors by late June before a full syndication. This structure allows lenders to tap a pool of cash‑rich investors hungry for new‑money deals, a trend that has tightened credit spreads and lowered borrowing costs for buyers in 2024 scenario for all.

Flender supplies mechanical and electrical‑drive technology to automotive and industrial customers, positioning it as a strategic asset in Europe’s shift toward electrification. The deal signals that private‑equity buyers are still willing to deploy capital in mature engineering firms, while banks benefit from higher yields amid a competitive lending market. Triton’s move tightens its foothold in the power‑train sector for 2024.