KKR’s stake in OHB could shift as share sale talks emerge
Synopsis
KKR-backed OHB SE is in discussions with major banks for a potential share sale. The German aerospace company generated €1.23 billion in revenue in 2025, supplying satellites and launcher systems while the global space market continues to expand across Europe, the US, China, and other regions.
KKR-backed OHB SE explores a share sale with banks, aiming to support growth in satellite manufacturing and space technology amid a $626 billion global space economy in 2025.
Key Highlights
- KKR-backed OHB engages Deutsche Bank, Goldman Sachs, and JPMorgan for a potential share sale.
- The proposed offering could represent 20% of the company, including new and existing shares.
- OHB’s 2025 revenue rose to €1.23 billion, with net profit reaching €112 million.
- Global space economy reached approximately $626 billion in 2025, driven by commercial satellite activity.
KKR-backed OHB SE has engaged banks to explore a potential share sale, signalling renewed investment activity in Europe’s satellite and space technology sector. The German aerospace firm’s discussions involve major international banks and could take place later this year.
The company, headquartered in Bremen, Germany, is known for satellite manufacturing, launcher components, and institutional space programs.
OHB’s 2025 revenue reached €1.23 billion, up from €1.14 billion in 2024, while net profit was €112 million, reflecting steady growth in commercial and government contracts.
Key Share Sale Plans
OHB has reportedly selected Deutsche Bank, Goldman Sachs, and JPMorgan to coordinate the potential share sale. KKR, which holds around 29% of OHB, may reduce part of its stake but retain significant ownership.
The Fuchs family, controlling roughly 65% of the company, is also involved in discussions.
The proposed transaction could include new and existing shares totalling about 20% of the company. Details on pricing and timing have not been officially disclosed. The company’s market value is estimated at €5.5 billion ($6.4 billion).
Industry Context and Global Space Market
The global space economy is estimated at $626 billion in 2025, with commercial activity accounting for nearly 78% of the total. Satellite manufacturing, communications, and launcher services are primary revenue drivers.
Countries active in space programs include China, the United States, Russia, India, Japan, and Europe, highlighting diverse regional engagement.
OHB supplies satellites for European navigation and reconnaissance programs and manufactures components for launch vehicles. Its expansion in satellite systems and space infrastructure aligns with global growth trends in both commercial and government space sectors.
Financial Position and Next Steps
OHB’s Space Systems segment reported €671.6 million in unconsolidated revenue in the first nine months of 2025. Operating margins have remained steady despite growth in production costs.
The share sale discussions are ongoing, and regulatory filings will provide further details once confirmed.
FAQs
Q1. What is the purpose of the OHB share sale?
OHB is exploring a share sale to raise capital and allow KKR to partially adjust its stake.
Q2. Which banks are involved in OHB’s share sale process?
Deutsche Bank, Goldman Sachs, and JPMorgan have been engaged to coordinate the potential offering.
Q3. How is OHB performing financially in the space sector?
OHB reported €1.23 billion in revenue and €112 million in net profit for 2025.
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Pooja Malik is a business journalist with over six years of experience covering startups, entrepreneurship, and emerging trends. She has previously worked with leading media platforms such as YourStory Media and BW BusinessWorld, where she reported on business, policy, and market developments. Currently, she serves as Editor at The Inspirepreneur Magazine, where she writes and edits stories across business, lifestyle, and travel, with a focus on clarity, accuracy, and reader relevance.
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