KPS Capital Partners, LP(KPS) announced that, through a newly formed affiliate, it has signed a definitive agreement to acquire Innomotics GmbH from Siemens AG for an enterprise value of €3.5 billion. The transaction is expected to close in the fourth quarter of 2024 or the first quarter of 2025 and is subject to customary closing conditions and approvals.
KPS Capital Partners, LP(KPS) announced that, through a newly formed affiliate, it has signed a definitive agreement to acquire Innomotics GmbH from Siemens AG for an enterprise value of €3.5 billion. The transaction is expected to close in the fourth quarter of 2024 or the first quarter of 2025 and is subject to customary closing conditions and approvals.
Innomotics GmbH is a leading global supplier of electric motors and large drive systems. Headquartered in Nuremberg, Germany, it is a wholly owned subsidiary of Siemens AG. With more than 150 years of engineering expertise, Innomotics has long been part of the backbone of the global industrial and infrastructure reliability movement. By combining the company's most efficient products and proven expertise with breakthrough innovations, Innomotics continues to improve industrial efficiency, electrification, sustainability, decarbonization and digitization for its customers.
In addition to providing value-added customer service and solutions, the company also manufactures a complete portfolio of low-voltage motors, high-voltage motors, medium-voltage drivers and other components. The company serves large, high-tech end markets with its engineering expertise and industry-leading track record of successful projects. With annual revenues of approximately €3.3 billion, Innomotics employs approximately 15,000 people and operates 16 facilities in Europe, the Middle East, the Americas and Asia Pacific.
Michael Psaros, co-founder and co-managing partner of KPS, said: "We are excited to acquire Innomotics and create a thriving independent business building on the company's 150-year history of unparalleled technological innovation. innootics is a global industry leader in motors and large drives. In many ways, KPS is investing in the future of the 21st century through innootics. The company is well positioned in the global megatrends of electrification, energy conservation, digitalization, urbanization, and commercialization of new energy sources such as hydrogen. We look forward to working with Innomotics' senior management and stakeholders to actively accelerate the company's growth trajectory and value creation opportunities."
About KPS
KPS Capital Partners, LP (" KPS ") is the manager of a family of investment funds focused on investing in manufacturing and industrial companies. Through its affiliated management entities, it manages more than $11.5 billion in assets (as of October 15, 2019). Since its inception more than 20 years ago, KPS partners have been committed to achieving significant capital appreciation through controlling equity investments in manufacturing and industrial companies.
These companies span a wide range of industries, including basic materials, branded consumer goods, healthcare, and luxury goods, auto parts, capital equipment, and general manufacturing.
KPS works constructively with talented management teams to improve the business, create value for investors and generate return on investment by structurally improving the strategic position, competitiveness and profitability of its portfolio companies, rather than relying primarily on financial leverage. The KPS Special Situations Funds' portfolio companies have a combined annual revenue of approximately $8.4 billion, 142 manufacturing facilities in 26 countries, and approximately 28,000 employees worldwide, directly or through joint ventures
