Deals
Iveco’s Defense Unit Attracts US Buyout Firms Bain, KPS
The logos of BAE Systems and Iveco Defence Vehicles on an amphibious combat vehicle at the Eurosatory Defense and Security expo in Paris, France, on Tuesday, June 18, 2024.
Photographer: Nathan Laine/BloombergThis article is for subscribers only.
Bain Capital and KPS Capital are interested in Iveco Group NV’s defense unit, according to people familiar with the matter, as the Italian truckmaker looks to seize on the rising demand for military assets.
The two US buyout firms have been considering bids for the business that makes armored and tactical vehicles, said the people, who asked not to be identified as the information is private. Deliberations are ongoing and they could decide against pursuing any deal, the people said.