The truck manufacturing industry in Europe is a vital segment of the automotive sector, contributing significantly to the region's economy and transport solutions. Various companies—from vehicle manufacturers to component suppliers—operate in this field, producing different classes of trucks, parts, and technologies that enhance vehicle efficiency and sustainability. With increasing demand for electric and hybrid trucks, the industry is rapidly evolving, emphasizing innovation and environmental considerations. As regulations tighten regarding emissions and transport safety, businesses are investing in advanced technologies, positioning themselves for future profitability and growth in a changing market.


The investment landscape in truck manufacturing features a mix of venture capital, private equity, and corporate players, headquartered across Europe. These 14 investors range in size from small firms to multinational corporations and have been active in the industry in 2024. Notable investors like Volkswagen and Bpifrance have demonstrated significant transaction volumes, reflecting a shift towards sustainable and innovative solutions. With established firms founded decades ago alongside newcomers, the blend of investment strategies brings valuable resources to companies in the truck manufacturing sector, supporting growth and technological advancement.


Top 14 Truck Manufacturing Investors in Europe


1. Advanced Propulsion Centre UK


The Advanced Propulsion Centre UK (APC) is a not-for-profit organization established in 2013, located in Coventry, England. It is dedicated to supporting the automotive industry in its transition to net-zero technologies by providing funding, business support, and collaborative opportunities. The APC plays a pivotal role in initiatives such as the Automotive Transformation Fund and various research and development competitions aimed at promoting innovative automotive solutions. In the context of truck manufacturing, the APC has been involved in several significant transactions, including a £4.2 million grant to Tevva, a pioneer in electric trucks, for the development of long-range medium-duty trucks. Additionally, they contributed £5.7 million to Toyota for the development of a hydrogen-powered version of the Hilux pick-up truck, showcasing their focus on sustainable truck technologies. Other notable transactions include grants to Leyland Trucks, Cummins, and Caterpillar, further emphasizing their active role in supporting advancements in the truck manufacturing sector.


2. Bpifrance French Tech Accélération


Bpifrance French Tech Accélération is a venture capital investor based in Paris, Île-De-France, France, founded in 2015. As a public entity and financial institution, Bpifrance supports entrepreneurs and businesses in France and internationally through various services, including direct funding, export credit insurance, and private equity investments. The institution aims to foster entrepreneurship and innovation, helping businesses navigate growth and international expansion. Bpifrance has been involved in several transactions relevant to the truck manufacturing context, such as the acquisition of a majority stake in Texelis, a company focused on vehicle manufacturing, which highlights their commitment to supporting the mobility sector. Other investments include K-Ryole, Midipile Mobility, Milla, and EZ Wheel, which, while not exclusively truck manufacturers, are part of the broader transportation and mobility landscape.


3. Mutares Benelux

  • Website: mutares.com
  • Type: Private Equity
  • Headquarters: Amsterdam, North Holland, Netherlands
  • Founded year: 2021
  • Headcount: 51-200
  • Number of deals in 2024: 16
  • LinkedIn: mutares-benelux

Mutares Benelux, a private equity firm based in Amsterdam, specializes in acquiring and managing companies in transition across various sectors, including automotive, technology, and retail. Founded in 2021, the firm has quickly established itself with 16 investments in 2024 alone. Notably, Mutares has engaged in several significant transactions relevant to the truck manufacturing context. For instance, they acquired Kirchhoff GmbH & Co. KG, a European automotive supplier, which enhances their automotive and mobility portfolio. Additionally, their acquisition of Steyr Motors Betriebs GmbH, a company involved in the production of specialized vehicles, further solidifies their presence in the automotive sector. The recent acquisition of Magirus, a provider of firefighting technology, also aligns with their strategy of investing in companies that may produce vehicles used in critical services, including trucks. Mutares provides operational support and consulting services to enhance profitability and growth, making them a strategic player in the automotive landscape.


4. Volkswagen Group Investor Relations


Volkswagen Group Investor Relations is a corporate investor based in Wolfsburg, Lower Saxony, Germany, founded in 1937. As a major automotive manufacturer, Volkswagen Group operates through a multi-brand strategy, providing integrated solutions that include electric vehicles and renewable energy services. Notably, Volkswagen Group acquired Scania on March 3, 2008, which is a prominent player in the truck manufacturing industry, thereby solidifying its presence in this sector. Additionally, their recent acquisition of a 50% stake in Anhui Jianghuai Automobile Group aims to enhance their competitive position in the automotive market, which includes commercial vehicles. These transactions highlight Volkswagen's strategic investments in the truck manufacturing space, making them a relevant investor in this category.


5. Mercedes-Benz AG

  • Website: mercedes-benz.com
  • Type: Corporate
  • Headquarters: Stuttgart, Baden-Württemberg, Germany
  • Founded year: 1883
  • Headcount: 10001+
  • Number of deals in 2024: 1
  • LinkedIn: mercedes-benz_ag

Mercedes-Benz AG, founded in 1883 and based in Stuttgart, Baden-Württemberg, Germany, is a leading automobile manufacturer renowned for its luxury vehicles and vans. The company operates in vehicle manufacturing and retail, emphasizing quality and performance. In addition to their core business, Mercedes-Benz AG has made strategic investments in the truck manufacturing sector. Notably, they invested in KAMAZ, a prominent truck manufacturer, in a post-IPO equity round in December 2008. Furthermore, their investments in Proterra, which raised significant funds in 2018 and 2019, and Motor Coach Industries, highlight their interest in commercial vehicles, including buses and trucks. These transactions reflect Mercedes-Benz AG's commitment to advancing technology and innovation in the commercial vehicle space, making them a relevant investor in the truck manufacturing industry.


6. Shell

  • Website: shell.com
  • Type: Corporate
  • Headquarters: London, England, United Kingdom (UK)
  • Founded year: 1907
  • Headcount: 10001+
  • Number of deals in 2024: 20
  • LinkedIn: shell

Shell plc is a multinational oil and gas company based in London, England, founded in 1907. It operates in the energy and chemicals sectors, providing essential products such as fuels, lubricants, and chemical solutions to a diverse range of industries globally. In recent years, Shell has made significant investments in the commercial transport sector, particularly in electric vehicle infrastructure. Notably, they completed a 100% acquisition of SBRS GmbH, which specializes in charging infrastructure solutions for commercial electric vehicles, enhancing their portfolio of lower-carbon solutions for fleet and commercial road transport customers. Additionally, Shell Ventures has invested in XCharge, a provider of battery-integrated charging solutions, indicating their commitment to supporting the electrification of transport, including trucks. These strategic moves position Shell as a key player in the evolving landscape of truck manufacturing and transportation.


7. 3i Group plc

  • Website: 3i.com
  • Type: Private Equity
  • Headquarters: London, England, United Kingdom (UK)
  • Founded year: 1945
  • Headcount: 201-500
  • Number of deals in 2024: 3
  • LinkedIn: 3i-group-plc

3i Group plc is a London-based private equity and infrastructure investment firm founded in 1945. The firm specializes in providing capital and expertise to mid-market companies, helping them grow sustainably. With a strong international presence and a diverse portfolio, 3i Group aims to create value for its stakeholders through strategic investments. Notably, 3i Group acquired Hyva Group in 2004, a company that specializes in hydraulic systems and equipment for trucks, indicating a direct involvement in the truck manufacturing industry. Additionally, their acquisition of Hilite International in 2011, which focuses on automotive components, further highlights their engagement in sectors related to truck manufacturing. These transactions reflect 3i Group's commitment to investing in companies that contribute to the automotive and truck manufacturing landscape.


8. Indutrade Life Science

  • Website: indutrade.se
  • Type: Corporate
  • Headquarters: Stockholm, Stockholm, Sweden
  • Founded year: 1978
  • Headcount: 1001-5000
  • Number of deals in 2024: 14
  • LinkedIn: indutrade-life-science

Indutrade Life Science is a corporate investor based in Stockholm, Sweden, founded in 1978. The company is part of an industrial group that focuses on developing and acquiring companies with high technical expertise across various sectors, including technology and industrial products. Indutrade emphasizes long-term relationships with its customers and operates through a decentralized structure, allowing its subsidiaries to maintain independence while benefiting from the group's resources. Notable transactions include the acquisition of Bailey Morris Ltd, a leading propshaft manufacturer, which is crucial for truck manufacturing, and Sepab Fordonsprodukter AB, which likely operates in the vehicle parts sector. These acquisitions highlight Indutrade's strategic interest in companies that support the truck manufacturing industry, reinforcing its position as a relevant investor in this space.


9. SoftBank Investment Advisers


SoftBank Investment Advisers, also known as SoftBank Vision Fund, is a venture capital fund based in London, UK, founded in 2017. The fund specializes in investing in technology-focused companies, particularly those developing innovations in artificial intelligence and other advanced technologies. Their diverse portfolio includes significant investments across various sectors, including health tech and fintech. Notably, SoftBank has invested in Proterra, which raised $30 million in a Series A round in 2011, focusing on electric buses and commercial vehicles, including trucks. Additionally, they participated in the Series D funding round for Rimac Group, which raised EUR 500 million in May 2022, aimed at innovation in manufacturing and production expansion in the automotive sector. These transactions highlight SoftBank's engagement in the vehicle manufacturing space, particularly in the context of sustainable and innovative transportation solutions.


10. Volvo Group

  • Website: volvogroup.com
  • Type: Corporate
  • Headquarters: Sweden
  • Founded year: 1927
  • Headcount: 10001+
  • Number of deals in 2024: 4
  • LinkedIn: volvo-group

Volvo Group is a leading manufacturing company based in Sweden, founded in 1927, with a workforce exceeding 10,000 employees. The company specializes in the production of trucks, buses, construction equipment, and marine and industrial engines, serving businesses in the transportation and construction sectors. In recent years, Volvo Group has made significant investments to enhance its capabilities and innovation in the truck manufacturing sector. Notably, in 2021, Volvo Group acquired Jiangling Motors for $126 million, expanding its footprint in the truck market. Additionally, the acquisition of a 60% stake in Designwerk Technologies, an electro-mobility company, reflects Volvo's commitment to sustainable transportation solutions. Furthermore, their investments in companies like Waabi, which focuses on autonomous driving technology, indicate a strategic interest in the future of truck manufacturing and transportation. Overall, Volvo Group's diverse investments and core focus on truck manufacturing make it a significant player in the industry.


11. Cvc

  • Website: cvc.com
  • Type: Private Equity
  • Headquarters: Luxembourg
  • Founded year: 2005
  • Headcount: 1001-5000
  • Number of deals in 2024: 16
  • LinkedIn: cvc-capital-partners

CVC Capital Partners is a prominent private equity firm based in Luxembourg, founded in 2005. It specializes in private equity, credit, secondaries, and infrastructure, managing approximately €193 billion in assets for over 1000 clients, including pension funds and institutional investors. CVC has a diverse investment portfolio, with notable transactions including the acquisition of Fraikin on January 31, 2007, which is significant in the truck manufacturing context as Fraikin operates in the commercial vehicle rental and fleet management sector. Additionally, CVC has made investments in various other sectors, but their involvement with Fraikin highlights their capacity to engage in the truck manufacturing industry, thereby delivering sustainable value and growth through strategic investments.


12. Ardian

  • Website: ardian.com
  • Type: Private Equity
  • Headquarters: Paris, Île-De-France, France
  • Founded year: 1996
  • Headcount: 1001-5000
  • Number of deals in 2024: 21
  • LinkedIn: ardian

Ardian is a prominent investment management firm based in Paris, specializing in private equity, real assets, and credit solutions. Founded in 1996, Ardian has established a global presence and focuses on sustainable finance, aiming to create lasting value for its clients. Notable transactions include the acquisition of Aixam Mega in 2006, which, while not directly related to trucks, indicates Ardian's interest in the automotive sector. In 2016, Ardian acquired a majority stake in Weber Automotive, a company that could be involved in components relevant to truck manufacturing. Furthermore, Ardian's minority stake in Euro 4x4 Parts in 2020 highlights its engagement in the automotive parts market, which may intersect with truck manufacturing. These transactions reflect Ardian's strategic positioning within the automotive industry, making it a relevant player in the context of truck manufacturing investments.


13. Ldc

  • Website: ldc.co.uk
  • Type: Private Equity
  • Headquarters: London, England, United Kingdom (UK)
  • Founded year: 1981
  • Headcount: 51-200
  • Number of deals in 2024: 15
  • LinkedIn: ldc

Lloyds Development Capital (Holdings) Limited, commonly known as LDC, is a private equity firm based in London, England, that specializes in providing growth capital and strategic support to mid-market businesses across various sectors. Founded in 1981, LDC is part of Lloyds Banking Group and focuses on fostering long-term partnerships to drive business success through investment and advisory services. Notable transactions include the acquisition of Ring Automotive Ltd, a company involved in automotive products, which aligns with the truck manufacturing sector. Additionally, LDC's investment in Rhino Products, a manufacturer that could potentially supply components for trucks, further demonstrates its engagement in related industries. LDC's diverse portfolio and strategic investments suggest a capability to support growth in the truck manufacturing space, even if it does not exclusively focus on this sector.


14. Baillie Gifford

  • Website: bailliegifford.com
  • Type: Private Equity
  • Headquarters: Edinburgh, Scotland, United Kingdom (UK)
  • Founded year: 1908
  • Headcount: 1001-5000
  • Number of deals in 2024: 13
  • LinkedIn: baillie-gifford

Baillie Gifford & Co is an investment management firm based in Edinburgh, Scotland, specializing in managing equity, fixed-income, and multi-asset portfolios. Founded in 1908, the firm serves professional investors, including institutions and high-net-worth individuals, with a focus on long-term growth opportunities. Baillie Gifford employs a research-driven approach to deliver sustainable returns for its clients. Notably, the firm has invested in companies like Aurora, a self-driving technology startup, and Nuro, which focuses on autonomous delivery vehicles. These investments indicate Baillie Gifford's interest in the future of transportation, including innovations that could influence the truck manufacturing industry, as they explore advancements in logistics and autonomous driving technologies.



Truck Manufacturing Insights: Key Investors in Europe


InvestorHeadquarterSizeFoundedDeals 2024
Advanced Propulsion Centre UKCoventry, England, United Kingdom (UK)51-20020131
Bpifrance French Tech AccélérationParis, Île-De-France, France1-102015198
Mutares BeneluxAmsterdam, North Holland, Netherlands51-200202116
Volkswagen Group Investor RelationsWolfsburg, Lower Saxony, Germany10001+19371
Mercedes-Benz AGStuttgart, Baden-Württemberg, Germany10001+18831
ShellLondon, England, United Kingdom (UK)10001+190720
3i Group plcLondon, England, United Kingdom (UK)201-50019453
Indutrade Life ScienceStockholm, Stockholm, Sweden1001-5000197814
SoftBank Investment AdvisersLondon, England, United Kingdom (UK)201-500201714
Volvo GroupSweden10001+19274
CvcLuxembourg1001-5000200516
ArdianParis, Île-De-France, France1001-5000199621
LdcLondon, England, United Kingdom (UK)51-200198115
Baillie GiffordEdinburgh, Scotland, United Kingdom (UK)1001-5000190813


Want to find more investors focusing on the truck manufacturing industry?

If you want to find more investors that are active in the truck manufacturingindustry, you can do that with Inven. We built this list and analysis throughInven's Investor Search, and there are a lot more private equity, venturecapital, and corporate investors like these globally.

With Inven, you'll also get to know:

  • Deal History: Number of deals and their sizes.
  • Portfolio: Companies they've invested in.
  • Contact data: Key dealmakers, including their emails and phonenumbers.
  • ...and much more!