Siemens Successfully Closes Sale of Innomotics to KPS Capital Partners
October 15, 2024
- KPS Capital Partners is Innomotics’ new owner
- Siemens completes another step in focusing its portfolio
Siemens AG has successfully closed the sale of Innomotics to KPS Capital Partners, LP (“KPS”) for €3.5 billion (enterprise value). On May 16, 2024, the company had announced plans to sell this world-leading supplier of electric motors and large-drive systems to KPS.
“I am delighted that the sale of Innomotics to KPS has been successfully completed. This is another important step toward optimizing our portfolio, and it underlines our consistent focus on combining the real and digital worlds,” said Ralf P. Thomas, Chief Financial Officer of Siemens AG.
Siemens AG (Berlin and Munich) is a leading technology company focused on industry, infrastructure, mobility, and healthcare. The company’s purpose is to create technology to transform the everyday, for everyone. By combining the real and the digital worlds, Siemens empowers customers to accelerate their digital and sustainability transformations, making factories more efficient, cities more livable, and transportation more sustainable. Siemens also owns a majority stake in the publicly listed company, Siemens Healthineers, a leading global medical technology provider shaping the future of healthcare.
In fiscal 2023, which ended on September 30, 2023, the Siemens Group generated revenue of €74.9 billion and net income of €8.5 billion. As of September 30, 2023, the company employed around 305,000 people worldwide on the basis of continuing operations. Further information is available on the Internet at www.siemens.com.
About KPS Capital Partners
KPS, through its affiliated management entities, is the manager of the KPS Special Situations Funds, a family of investment funds with approximately $21.8 billion of assets under management (as of June 30, 2024). For over three decades, the Partners of KPS have worked exclusively to realize significant capital appreciation by making controlling equity investments in manufacturing and industrial companies across a diverse array of industries, including basic materials, branded consumer, healthcare and luxury products, automotive parts, capital equipment and general manufacturing.
KPS creates value for its investors by working constructively with talented management teams to make businesses better, and generates investment returns by structurally improving the strategic position, competitiveness and profitability of its portfolio companies, rather than primarily relying on financial leverage. The KPS Funds’ portfolio companies currently generate aggregate annual revenues of approximately $19.3 billion, operate 219 manufacturing facilities in 26 countries, and have approximately 47,000 employees, directly and through joint ventures worldwide (as of June 30, 2024). The KPS investment strategy and portfolio companies are described in detail at www.kpsfund.com.
About Innomotics
Innomotics GmbH is a globally leading supplier of electric motors and large-drive systems. The company unites the power of deep engineering expertise and leading innovation in electrical solutions across industries and regions. With its trusted legacy of more than 150 years of engineering expertise, Innomotics has long been part of the backbone of reliable motion for industries and infrastructure worldwide. By combining the company’s most efficient products and proven expertise with ground-breaking innovation, Innomotics is persistently scaling up industrial efficiency, electrification, sustainability, decarbonization and digitalization for its customers.
Innomotics has its operational headquarters in Nuremberg, Germany, and is a wholly owned subsidiary of Siemens AG. The company employs about 15,000 people worldwide. With 17 factories and a comprehensive sales-and-service setup in 49 countries, Innomotics has a well-balanced global footprint across regions and industries in a resilient and growing market.
Further information is available at www.innomotics.com.
Notes and forward-looking statements
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Related Story
Innomotics – Launch of a New Leading Motors and Large Drives Company
A new, leading motors and large drives company will be called Innomotics. Under this name, Siemens is combining its business activities in the areas of low- to high-voltage motors, geared motors, medium-voltage converters and motor spindles. The portfolio includes an innovative solutions and digitalization portfolio and a broad range of service offerings. The related businesses were previously assigned to the units Large Drives Applications and Digital Industries and to the legally separate their companies Sykatec and Weiss Spindeltechnologie.
