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Press Release16 May 2024Siemens AGMunich
Siemens to sell Innomotics to KPS Capital Partners
“By selling Innomotics to KPS, I am pleased that
we have made further significant progress in optimizing our portfolio. The
search for the best new owner has been successful,” said Ralf P. Thomas, Chief
Financial Officer of Siemens AG. “This decision gives
customers and the people who work at Innomotics clarity and paves Innomotics’
way to extensive opportunities for further successful business development. In
the future, Siemens and its shareholders will benefit even more from combining
the real and the digital worlds.”
In
November 2022, Siemens decided to combine its businesses for large drives and
electric motors under one roof and set them up independently, outside the core
business of Siemens AG. Since then, the carve-out has been successfully
implemented as planned. Since
this agreement, which is beneficial for all parties involved, offers an even faster
track to clarity for a successful future, Siemens decided not to further pursue
the preparations for a public listing of Innomotics that had been announced in
November 2023.
The
positive responses from customers and the market, as well as the growth of
Innomotics during the carve-out, underline Innomotics’ strong positioning as a
leading supplier of large drives and motors capable of addressing its
customers’ most demanding technical requirements. The future setup with KPS as
the new owner offers Innomotics’ business the best framework conditions for
sustainable and growth-oriented development.
“The partnership with KPS will support Innomotics in
further expanding our extensive track record of successful technological
innovation and of providing our customers with world-class products, solutions
and services,” said Michael Reichle, Chief Executive Officer of Innomotics. “We look forward
to working closely together with KPS and our talented people as we continue to deliver
significant value for our customers around the world and enhance Innomotics’
strong technological leadership. Innomotics will continue to benefit from
strong growth potential driven by the sustainability-oriented demand for highly
efficient electrification and energy consumption in industry and society.”
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Siemens AG (Berlin and Munich) is a leading technology company focused on industry, infrastructure, transport, and healthcare. From more resource-efficient factories, resilient supply chains, and smarter buildings and grids, to cleaner and more comfortable transportation as well as advanced healthcare, the company creates technology with purpose adding real value for customers. By combining the real and the digital worlds, Siemens empowers its customers to transform their industries and markets, helping them to transform the everyday for billions of people. Siemens also owns a majority stake in the publicly listed company Siemens Healthineers, a globally leading medical technology provider shaping the future of healthcare.
In fiscal 2023, which ended on September 30, 2023, the Siemens Group generated revenue of €77.8 billion and net income of €8.5 billion. As of September 30, 2023, the company employed around 320,000 people worldwide. Further information is available on the Internet at www.siemens.com.
In fiscal 2023, which ended on September 30, 2023, the Siemens Group generated revenue of €77.8 billion and net income of €8.5 billion. As of September 30, 2023, the company employed around 320,000 people worldwide. 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 Funds, a family of investment funds with approximately US$21.4 billion of assets under management (as of December 31, 2023). 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, automotive parts, capital equipment and general manufacturing. KPS creates value 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. The KPS Funds’ portfolio companies generate aggregate annual revenue of approximately US$20.3 billion, operate 222 manufacturing facilities in 26 countries, and have approximately 48,000 employees, directly and through joint ventures worldwide (as of December 31, 2023). Further information is available at www.kpsfund.com.
About Innomotics
Innomotics GmbH is a globally leading supplier of electric motor 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 GmbH is a globally leading supplier of electric motor 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 16 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.
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