EQS-News: Steyr Motors AG acquires BUKH A/S – strategic expansion to become the leading supplier for mission-critical defense and marine applications

EQS-News: Steyr Motors AG / Key word(s): Investment/Takeover
Steyr Motors AG acquires BUKH A/S – strategic expansion to become the
leading supplier for mission-critical defense and marine applications

25.02.2026 / 14:58 CET/CEST
The issuer is solely responsible for the content of this announcement.

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Steyr Motors AG acquires BUKH A/S – strategic expansion to become the
leading supplier for mission-critical defense and marine applications

• Acquisition of Danish marine engine manufacturer BUKH A/S – a leading
international SOLAS specialist with a strong global distributor and
service network
• Expansion of the service range to an almost comprehensive marine
portfolio enables significantly increased revenue potential per
customer
• Acquisition expands opportunities in the defense sector for unmanned
surface vessels (USV)
• Strengthening of position as leading SOLAS player in the civil and
defense segment with recurring aftermarket business
• Acquisition already contributing to EBIT in its first full year of
consolidation, while maintaining a solid capital structure

Steyr, Austria, 25 February 2026 – Steyr Motors AG ([1]ISIN
AT0000A3FW25), one of the world’s leading companies in the field of
customized engines for mission-critical defense and civilian applications,
has today signed a binding agreement for the acquisition of 100% of the
shares in the Danish companies BUKH A/S and SLC Ejendomme ApS. BUKH A/S is
a leading international specialist in SOLAS-certified engines for rescue
and military boats. This acquisition marks a strategic step for Steyr
Motors in becoming a broadly positioned, globally scalable supplier in the
field of mission-critical marine applications.

Comprehensive marine engines portfolio

By integrating BUKH, Steyr Motors is expanding its range of engines from
the previous 120 to 300 hp to 24 to 700 hp in the future. This creates a
virtually comprehensive portfolio of marine engines for the first time,
enabling Steyr Motors to position itself as a full-range supplier. The
expanded product range opens up new opportunities for Steyr Motors to
participate in international tenders across multiple performance levels,
significantly increasing the revenue potential per customer. At the same
time, it further strengthens the company’s position as a system provider
in the field of mission-critical marine applications.

BUKH is internationally recognized as a leading supplier in the SOLAS
(Safety of Life at Sea) segment – a highly regulated market with high
barriers to entry and long-term spare parts and service cycles. The
globally applicable SOLAS regulations define binding requirements for ship
safety, rescue equipment (e.g. lifeboats), fire protection, emergency and
evacuation systems, among other things. The engines are used in particular
in lifeboats, fast rescue boats, civil special applications, and in the
defense sector – wherever maximum reliability under extreme conditions is
required. Founded in 1899 and headquartered in Krusaa, Denmark, BUKH
employs staff in Denmark and China. The company is led by an experienced,
well-connected, and dedicated management team.

Significant scaling effect

BUKH’s annual sales volume of SOLAS-certified engines is around four times
the previous SOLAS marine volume of Steyr Motors. In addition to a
significant increase in unit numbers, the transaction strengthens the
industrial base with a second European production site and, at the same
time, increases supply chain resilience.

In addition, BUKH has a strong international distributor and service
network, which significantly improves market access, particularly in Asia
and South America. This complementary customer and sales structure enables
immediate cross-selling potential and accelerated international scaling
without additional infrastructure investments. Significant sales synergies
are also expected.

The expanded performance range opens up additional opportunities –
especially in the field of unmanned surface vessels (USVs). Steyr Motors
is already experiencing strong growth in demand in this area, but has not
been able to take on all projects due to its limited performance range.
The integration of the BUKH platform strategically closes this gap.

At the same time, the acquisition strengthens the company’s position as
leading SOLAS player in the civil and defense marine segment. SOLAS
certifications create long-term customer loyalty, recurring aftermarket
revenue, and a stable, high-margin business structure.

High synergy and margin potential

The combination of both companies opens up substantial operational and
strategic synergy effects. The complementary product portfolios and sales
structures create immediate cross-selling potential, particularly in the
high-margin aftermarket business, which traditionally generates
above-average spare parts and service profits in the SOLAS segment.

A key strategic lever lies in the planned platform strategy: combining
BUKH’s SOLAS integration expertise with Steyr Motors’ know-how and base
engines creates a foundation for accelerated development cycles, shorter
time-to-market processes, and more efficient R&D resource utilization. In
addition, harmonizing IT and support structures creates further efficiency
opportunities at the Group level. Overall, Steyr Motors expects the
integration to result in a sustainable improvement in operating
profitability and a structural strengthening of EBIT margins in the coming
years.

Julian Cassutti, CEO of Steyr Motors, comments: “By acquiring BUKH, we are
gaining a globally recognized SOLAS specialist for mission-critical
applications. With an expanded performance portfolio, we can immediately
address additional market opportunities, particularly in the rapidly
growing USV segment, where we are already experiencing very high demand.
This transaction represents a strategic quantum leap for us in the marine
and defense business and also marks the start of a series of potential
further acquisitions as part of our strategic M&A agenda.”

Financing of the transaction

The purchase price will be financed through a balanced combination of cash
and a capital increase by contribution in kind. A significant portion of
the purchase price will be paid in cash, while the remaining portion will
be paid through the issuance of new shares from authorized capital. The
seller is subject to a lock-up obligation. Additionally, an earn-out model
linked to operating performance indicators for the coming financial years
has been agreed upon, thus ensuring that the interests of the buyer and
seller are aligned. The transaction structure is designed to maintain
Steyr Motors AG’s solid capital structure while allowing scope for further
organic growth and strategic initiatives. On an EBIT basis, the
acquisition will already have a clear value-enhancing effect in the first
full year of consolidation.

The transaction is subject to customary conditions precedent and is
expected to close by the end of the first quarter of 2026.

Continuity of leadership

To ensure a smooth integration process, the previous owner and CEO of
BUKH, Søren Christiansen, will remain on the BUKH Supervisory Board for at
least two to three years and actively support the integration. This will
ensure the transfer of knowledge, stability of distributors, and
continuity of operations.

Company profile of Steyr Motors AG
Headquartered in Steyr, Austria, Steyr Motors AG is a global leader in the
development and production of high-performance customized special engines
with high power density and durability. The Company’s engines are
primarily used for military special vehicles, boats (both military and
civilian) and as auxiliary power units (“APU”) for main battle tanks and
locomotives.

For further information, please contact:

Steyr Motors AG
Investor Relations
Phone: +436766222367
E-mail: [2]ir@steyr-motors.com
[3] www.steyr-motors.com

Press contact:
CROSS ALLIANCE communication GmbH
Susan Hoffmeister
Phone: +49 89 125 09 0333
E-mail: [4]sh@crossalliance.de
[5] www.crossalliance.de

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25.02.2026 CET/CEST This Corporate News was distributed by [6]EQS Group

View original content: [7]EQS News

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Language: English
Company: Steyr Motors AG
Im Stadtgut B1
4407 Steyr
Austria
Phone: +43 7252 2220
E-mail: office@steyr-motors.com
Internet: https://www.steyr-motors.com/de/
ISIN: AT0000A3FW25
WKN: A40TC4
Listed: Regulated Unofficial Market in Frankfurt (Scale); Vienna
Stock Exchange (Vienna MTF)
EQS News ID: 2281508

 
End of News EQS News Service

2281508  25.02.2026 CET/CEST

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References

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2. ir@steyr-motors.com
3. https://eqs-cockpit.com/cgi-bin/fncls.ssp?fn=redirect&url=fa43d7aab0cc6b5f3e5a9bd745396480&application_id=2281508&site_id=apa_ots_austria~~~18b544d0-9c71-4160-bd95-cc8b9aff9fbf&application_name=news
4. sh@crossalliance.de
5. https://eqs-cockpit.com/cgi-bin/fncls.ssp?fn=redirect&url=a9f6782523c75b88380cf9d9c4273e43&application_id=2281508&site_id=apa_ots_austria~~~18b544d0-9c71-4160-bd95-cc8b9aff9fbf&application_name=news
6. https://eqs-cockpit.com/cgi-bin/fncls.ssp?fn=redirect&url=f5d50dc7e8798b6eb177f7955e598e60&application_id=2281508&site_id=apa_ots_austria~~~18b544d0-9c71-4160-bd95-cc8b9aff9fbf&application_name=news
7. https://eqs-cockpit.com/cgi-bin/fncls.ssp?fn=redirect&url=10f03809d655e06cc5ea2bdec10a5c83&application_id=2281508&site_id=apa_ots_austria~~~18b544d0-9c71-4160-bd95-cc8b9aff9fbf&application_name=news