A group of major lenders has arranged approximately €1.7 billion ($1.97 billion) in debt financing to support Triton Partners’ acquisition of German gearbox manufacturer Flender GmbH. Deutsche Bank AG and Goldman Sachs Group Inc are among the leading banks involved, with Bank of America Corp and Morgan Stanley also participating, according to sources familiar with the transaction.

Triton Partners announced its intention to acquire Flender, a company specializing in mechanical and electrical-drive technology, from private equity firm Carlyle Group Inc earlier this month. The debt financing for the deal will be structured as leveraged loans, with initial marketing efforts targeting institutional investors expected to begin toward the end of June. This will precede a broader syndication process, the sources said, speaking anonymously due to the private nature of the deal.

Representatives for Triton Partners and Deutsche Bank declined to comment on the matter. Flender and the other banks involved—Goldman Sachs, Bank of America, and Morgan Stanley—did not respond to requests for comment.

This financing arrangement reflects a broader increase in merger and acquisition activity in 2026, as investors seek new opportunities after a period of subdued dealmaking. The competition among money managers to deploy capital into a limited number of new deals is creating favorable conditions for borrowers, contributing to lower borrowing costs within the leveraged loan market.