Siemens will sell Imonda to KPS Capital Partners for 3.5 billion euros

• Imonta is a leading electric motor and large drives company with revenues of €3.3 billion and around 15,000 employees

• KPS will provide favorable framework conditions for the growth and sustainable development of IMonda’s business

• The transaction is expected to close in the first half of fiscal 2025

• The sale is another important step in Siemens’ efforts to optimize its product portfolio

DECS-200-2L The Board of Directors and Supervisory Board of Siemens AG have approved the sale of Imonda, a leading motor and large transmission company, to KPS Capital Partners, LP (KPS) for a purchase price of €3.5 billion. The transaction is expected to close in the first half of fiscal year 2025 and receive regulatory approvals for the relevant foreign investment and M&A.

“The sale of Imonta to KPS is another significant step in Siemens’ efforts to optimize its product portfolio. We are delighted to have found the right owner for Inmonda’s future.” Ralf P. Thomas, Chief Financial Officer of Siemens AG, said: “This will pave the way for further development of the business and will provide customers and employees with greater clarity on its future direction. In the future, Siemens and its shareholders will continue to benefit from the convergence of the physical and digital worlds.”

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In November 2022, Siemens decided to separate its large drive and motor businesses from the core business and merge them into a separate company, and successfully implemented the separation plan. The sale will benefit all parties involved and Siemens has therefore decided not to proceed with the public listing of Imonda announced in November 2023.

DECS-200-2L The positive customer and market feedback and business growth during the separation period have highlighted Imonda’s market advantages as a large drive and motor company, as well as its technical ability to meet customers’ stringent product requirements. In the future, KPS, as the new owner, will provide favorable framework conditions for the sustainable development of Inmonda’s business.

“Together with KPS, IMonda continues to demonstrate its innovative spirit to provide quality products, solutions and services to customers worldwide. “We look forward to working closely with KPS and working with our employees to advance IMonta’s technology leadership and deliver value to customers around the world,” said Michael Reichle, CEO of Imonta. “Imonta is well positioned to benefit from the strong demand for efficient electrification and sustainable energy transition in the industrial sector.”