KNDS Revenue, Valuation, Funding & Investors

KNDS is valued at $20B as of June 2026, a 4.3x multiple on its last reported $4.7B revenue.

See full KNDS profile

Last KNDS valuation

$20B

Secondary · Jun 2026

KNDS revenue

$4.7B

Secondary · Jun 2026

Key investors in KNDS

  • Government of Germany

KNDS Overview

About KNDS

KNDS provides equipment and systems for the land defense industry. The company, founded in 2015 and based in Amsterdam, Netherlands, is an alliance that supplies goods to armed forces.


Founded

2015

HQ

NetherlandsAmsterdam

Website

knds.com

Status

Privately held

Customer focus

B2G

Revenue model

Product sales

Revenue

$4.7B (Jun 2026)

Valuation

$20B (Jun 2026)

KNDS Valuation

KNDS is currently valued at $20B, based on its secondary sale in June 2026.

The round included Government of Germany.

KNDS valuation by funding round

KNDS valuation by funding round
DateStageValuationRevenue Multiple
Jun 2026Secondary$20B4.3x

KNDS Revenue

KNDS's latest recorded revenue is $4.7B, as of its secondary sale in June 2026. At a $20B valuation, that implies a 4.3x revenue multiple.

KNDS revenue by funding round

KNDS revenue and valuation multiple by funding round
DateRevenue *ValuationRevenue MultipleStage
Jun 2026$4.7B$20B4.3xSecondary

* Revenue (or ARR) figures are the values recorded alongside each funding round. Typically run-rate revenue at the time of the deal, or a reported LTM (last 12 months) revenue.

KNDS Funding History

KNDS has 1 recorded secondary share sale and no primary funding rounds.

KNDS funding rounds
DateStageInvestorsValuationDeal Summary
Jun 2026SecondaryGovernment of Germany$20BThe German government agreed to acquire a 40% stake in tank manufacturer KNDS NV from family owners (Wegmann & Co), valuing the company between €15 billion and €18 billion (midpoint €16.5 billion), with an estimated investment of €6 billion to €7 billion. The transaction, executed via Kreditanstalt für Wiederaufbau (KfW), clears the final barrier for KNDS's full secondary IPO, scheduled before France's summer recess on July 13, 2026, with listings in Frankfurt and Paris. The deal aims to balance ownership equity between Germany and France, granting Germany equal rights to the French state even after its stake potentially reduces to 30% within 2–3 years. KNDS, formed by the merger of Germany's KMW (Leopard tank producer) and France's Nexter (Leclerc tank producer), targets 30% revenue growth in 2026 versus 2025 driven by defense demand, with Free Cash Flow exceeding €250 million and €750 million in PPE Capex focused on expanding Land Systems Germany. Family owners plan to divest their entire 50% stake via the IPO, while 10% of remaining family shares and 10% of French shares will be offered to institutional investors.

Who has invested in KNDS?

1 investor has backed KNDS across its funding rounds, including Government of Germany.


KNDS Investors

Investors in KNDS by funding rounds participated
InvestorHQRoundsRoleFirst check

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Investments by KNDS

KNDS has invested in 1 company to date.

Latest investment by KNDS was on July 28th 2025. KNDS invested in RENK Group in their Secondary round.


Latest Investments by KNDS

RENK Group
Description
RENK Group AG provides vehicle mobility solutions. Its propulsion and drivetrain technology ensures the reliable deployment of forces to set vehicles, vessels, and machinery in motion. The company's business is divided into the following segments; Vehicle Mobility Solutions, Marine and Industry, and Slide Bearings. The Vehicle Mobility Solutions segment which generates maximum revenue, provides technology for the deployment of forces to set vehicles, vessels, and machinery in motion, and also offers products like engines, suspensions, electric drives, and power packs for military vehicles and test systems. Geographically, the company generates maximum revenue from Germany and the rest from America, Asia, Africa, other European countries, Other EU countries, and Australia and Oceania.
HQ CountryGermany
HQ City
Augsburg
Deal Date28 Jul 2025
RoundSecondary
Raisedundisclosed
Investors-
Valuationundisclosed
EV/Revenue
EV/EBITDA

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KNDS Competitors

KNDS competitors include listed companies like Curtiss-Wright, Czechoslovak Group, ST Engineering and Dassault Aviation, and private ones like Helsing and Castelion.

Public and private companies comparable to KNDS
CompanyHQStatusRevenueEBITDAValuationRevenue Multiple
Curtiss-WrightUnited StatesUnited StatesPublicly listed$3.5B$789M$21B5.8x
Czechoslovak GroupCzech RepublicCzech RepublicPublicly listed$7.8B$1.9B$19B2.6x
HelsingGermanyMunichPrivate$502M-$18B35.9x
ST EngineeringSingaporeSingaporePublicly listed$9.7B$1.1B$25B2.8x
Dassault AviationFranceFrancePublicly listed$8.6B$1.6B$26B1.5x
CastelionUnited StatesLos Angeles, CAPrivate--$13B-

KNDS Public Comps

KNDS is still privately-owned, but its public comps include Curtiss-Wright, Czechoslovak Group, ST Engineering, Dassault Aviation, BWX Technologies, Embraer, Indra Sistemas, Teledyne, AVIC Chengdu Aircraft and Moog.

Last FYEV/RevenueEV/EBITDA
RevenueEBITDALast FYLTM2027ELast FYLTM2027E
Curtiss-Wright$3.5B$789M6.2x5.8x27.4x26.1x
Czechoslovak Group$7.8B$1.9B2.8x2.6x11.6x9.6x
ST Engineering$9.7B$1.1B3.0x2.8x25.8x19.9x
Dassault Aviation$8.6B$1.6B1.7x1.5x9.1x12.8x
BWX Technologies$3.2B$548M4.6x4.1x27.1x23.3x
Embraer$7.6B$604M1.8x1.7x23.2x13.4x
Indra Sistemas$6.3B$695M2.0x1.6x17.7x12.1x
Teledyne$6.1B$1.5B4.8x4.6x19.9x18.5x

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Common questions about KNDS

When was KNDS founded?KNDS was founded in 2015.
Where is KNDS headquartered?KNDS is headquartered in Amsterdam, Netherlands.
Is KNDS publicly listed?No, KNDS is a private, VC-backed company.
What is KNDS's valuation?KNDS was last valued at $20B in its secondary sale in June 2026.
Who are KNDS's investors?KNDS's investors include Government of Germany.
What is KNDS's revenue?KNDS's latest recorded revenue is $4.7B (June 2026).
What is KNDS's revenue multiple?KNDS's latest valuation implies a 4.3x revenue multiple ($20B valuation on $4.7B of revenue).
Which companies are comparable to KNDS?Companies comparable to KNDS include Curtiss-Wright, Czechoslovak Group, Helsing, ST Engineering, Dassault Aviation and Castelion.
How many companies has KNDS invested in?KNDS has invested in 1 company, including RENK Group.
What was KNDS's last investment?In July 2025, KNDS invested in RENK Group's secondary sale.

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