3 Oct 2024
Siemens AG has successfully closed the sale of Innomotics to KPS Capital Partners, LP for €3.5 billion (enterprise value). On May 16, 2024, Siemens had announced plans to sell this supplier of electric motors and large-drive systems to KPS.
“I am delighted that the sale of Innomotics to KPS has been successfully completed. This is another important step toward optimizing our portfolio, and it underlines our consistent focus on combining the real and digital worlds,” said Ralf P. Thomas, Chief Financial Officer of Siemens AG.