Siemens to Sell Inmenda to KPS Capital Partners for 3.5 Billion Euros
TapTechNews May 17th news, Siemens officially announced today that it will sell Inmenda to KPS Capital Partners for 3.5 billion euros (TapTechNews note: currently about 27.475 billion yuan).
It is understood that the board of directors and the supervisory board of Siemens AG have approved the sale of the leading motor and large drive company Inmenda to KPS Capital Partners, LP (KPS), and the two sides have signed relevant agreements. The acquisition price is 3.5 billion euros. The transaction is expected to be completed in the first half of fiscal year 2025 and obtain the relevant regulatory approvals for foreign investment and mergers and acquisitions.
Siemens officially said that selling Inmenda to KPS is another major measure for Siemens to optimize its product portfolio, which will pave the way for the further development of Inmenda's business. As the new owner, KPS will provide favorable framework conditions for the continuous development of Inmenda's business.
According to the introduction, Inmenda is a motor and large drive company with revenue of 3.3 billion euros (currently about 25.905 billion yuan) and about 15,000 employees. The company's product portfolio covers a wide range of industrial applications, including energy, manufacturing, infrastructure and transportation and other fields.
In November 2022, Siemens decided to spin off its large drive and motor business from its core business and merge it into an independent company, and successfully implemented the spin-off plan. This sale will benefit all parties involved, so Siemens has decided not to continue the Inmenda public listing plan announced in November 2023.
TapTechNews found out that the acquirer, KPS Capital Partners, is a private equity investment company founded in 1991 and headquartered in New York, USA. KPS once competed with the Japanese engine manufacturer Nidec for the acquisition right of Inmenda.
