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Siemens and Carlyle shape the future of Flender

“By selling Flender, we’re successfully and rigorously continuing our strategy to become a new, focused Siemens AG. Our plan of fixing the businesses ourselves by introducing the structures used in small and midsized companies has proven effective. Now it’s time to position Flender as an independent company and give it the chance to realize future growth opportunities. This fast decision gives customers and employees clarity and a solid foundation for planning,” said Joe Kaeser, President and CEO of Siemens AG.
“Our original plan was to list Flender on the stock exchange through a spin‑off,” added Ralf P. Thomas, who is Chief Financial Officer of Siemens AG and is responsible for the area of the Portfolio Companies (POC). “Yet we’ve always been open for alternative solutions, too. The interest that numerous investors have taken clearly shows how attractive the company is and confirms the approach that we’ve been pursuing at our Portfolio Companies. The new ownership means that Flender will have the opportunities it will need in the future to optimize itself to an even greater extent and to address its customers’ requirements in an even more targeted way. Siemens and its shareholders will, in turn, benefit from further business focus and the attractive valuation and the inflow of liquidity.”
“Flender is the global champion in the wind and industrial gears space. With its unique product and technology portfolio and its global presence, Flender is ideally positioned for sustainable growth. At Carlyle, we’re looking forward to supporting the company’s future development through our industrial expertise and investments into the technology and service platform that Flender uses to serve its customers on a global basis,” said Gregor Böhm, Managing Director and Co-head of Europe Buyout at Carlyle.
As part of the sale, Carlyle has agreed to make long-term and reliable commitments for Flender and its employees. With this move, Carlyle is backing the future course that Flender has announced and is showing its appreciation for the company’s workforce.
The sale of Flender is evidence that the strategic alignment of Siemens’ POC unit has been successful. The goal is to give the Portfolio Companies greater independence and autonomy, possibly also in connection with a change of ownership. Siemens bundled multiple business units together under the umbrella of the Portfolio Companies on April 1, 2019. The six POC units employ about 21,500 employees and generate around €5 billion in revenue. 
About The Carlyle Group 
The Carlyle Group (NASDAQ: CG) is a global investment firm with deep industry expertise that deploys private capital across four business segments: Corporate Private Equity, Real Assets, Global Credit and Investment Solutions. With $230 billion of assets under management as of September 30, 2020, Carlyle’s purpose is to invest wisely and create value on behalf of its investors, portfolio companies and the communities in which we live and invest. The Carlyle Group employs more than 1,800 people in 30 offices across six continents. Further information is available at Follow The Carlyle Group on Twitter @OneCarlyle. 
About Flender
Headquartered in Bocholt, Germany, Flender GmbH is a leading global supplier for mechanical and electrical drive systems. For more than 120 years now, the company has enjoyed a reputation for the highest performance, innovation, quality, and reliability of mechanical components and systems. Flender offers a broad variety of gear units, couplings, generators and associated services. It focuses on key industries such as wind power, cement, oil & gas, power generation, water and wastewater, marine, conveyor and crane technology. Flender products and services combine the latest technology with extremely high quality and have been reliably enabling optimal transmission of power for decades. Flender employees about 8,600 employees globally and generated pro-forma revenue of around €2.2 billion in fiscal 2020. Further information is available at

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Siemens AG (Berlin and Munich) is a global technology powerhouse that has stood for engineering excellence, innovation, quality, reliability and internationality for more than 170 years. Active around the world, the company focuses on intelligent infrastructure for buildings and distributed energy systems and on automation and digitalization in the process and manufacturing industries. Siemens brings together the digital and physical worlds to benefit customers and society. Through Mobility, a leading supplier of intelligent mobility solutions for rail and road transport, Siemens is helping to shape the world market for passenger and freight services. Via its majority stake in the publicly listed company Siemens Healthineers, Siemens is also a world-leading supplier of medical technology and digital health services. In addition, Siemens holds a minority stake in Siemens Energy, a global leader in the transmission and generation of electrical power that has been listed on the stock exchange since September 28, 2020.

In fiscal 2019, which ended on September 30, 2019, the Siemens Group generated revenue of €58.5 billion and net income of €5.6 billion. As of September 30, 2019, the company had around 295,000 employees worldwide on the basis of continuing operations. Further information is available on the Internet at

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This document contains statements related to our future business and financial performance and future events or developments involving Siemens that may constitute forward-looking statements. These statements may be identified by words such as “expect,” “look forward to,” “anticipate,” “intend,” “plan,” “believe,” “seek,” “estimate,” “will,” “project” or words of similar meaning. We may also make forward-looking statements in other reports, prospectuses, in presentations, in material delivered to shareholders and in press releases. In addition, our representatives may from time to time make oral forward-looking statements. Such statements are based on the current expectations and certain assumptions of Siemens’ management, of which many are beyond Siemens’ control. These are subject to a number of risks, uncertainties and factors, including, but not limited to, those described in disclosures, in particular in the chapter Report on expected developments and associated material opportunities and risks of the Annual Report, and in the Half-year Financial Report, which should be read in conjunction with the Annual Report. Should one or more of these risks or uncertainties materialize, events of force majeure, such as pandemics, occur or should underlying expectations including future events occur at a later date or not at all or assumptions prove incorrect, actual results, performance or achievements of Siemens may (negatively or positively) vary materially from those described explicitly or implicitly in the relevant forward-looking statement. Siemens neither intends, nor assumes any obligation, to update or revise these forward-looking statements in light of developments which differ from those anticipated.

This document includes – in the applicable financial reporting framework not clearly defined – supplemental financial measures that are or may be alternative performance measures (non-GAAP-measures). These supplemental financial measures should not be viewed in isolation or as alternatives to measures of Siemens’ net assets and financial positions or results of operations as presented in accordance with the applicable financial reporting framework in its Consolidated Financial Statements. Other companies that report or describe similarly titled alternative performance measures may calculate them differently.

Due to rounding, numbers presented throughout this and other documents may not add up precisely to the totals provided and percentages may not precisely reflect the absolute figures.

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Florian Martens

Siemens AG

Werner-von-Siemens-Straße 1                       
80333 Munich

+49 (89) 636 22804

Wolfram Trost

Siemens AG

Werner-von-Siemens-Straße 1
80333 Munich

+49 (89) 636 34794

Katharina Gebsattel

The Carlyle Group

+49 172 718 68 57

Andrew Kenny

The Carlyle Group

+44 7816 176120