Siemens agrees to sell Innomotics to KPS for EUR 3.5B

The Managing Board and Supervisory Board of Siemens AG have approved the sale of Innomotics, an electric motors and large drives company, to KPS Capital Partners, LP. The contracting parties have signed a corresponding agreement. The purchase price is EUR 3.5B. The sale to KPS is expected to close in the first half of fiscal 2025 and is subject to customary foreign-investment and merger control approvals. “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.”