The sale of Innomotics, a leading provider of electric motors and large drive systems based in Nuremberg, Germany, was completed on 1 October 2024. Innomotics had previously operated as an independent subsidiary of Siemens AG since July 1, 2023. KPS Capital Partners, LP has purchased Innomotics for EUR3.5 billion ($3.9 billion).
For Innomotics, the completion of the sale represents an important milestone. The company said it aims to further expand its position as a global market leader for electric motors and large drive systems. To this end, the company said it continues to pursue its clear purpose of “redefining reliable motion for a better tomorrow” by rethinking electric drive technology with a focus on higher reliability and efficiency as well as sustainability.
Simultaneously with the sale, the company celebrates its one-year anniversary since the carve-out from Siemens and the conclusion of a successful fiscal year. With more than 150 years of experience in developing efficient and reliable electric drive systems, Innomotics said it can now make decisions even faster and thus react to a rapidly changing market.
“We are delighted to have an owner in KPS who is already deeply rooted in the manufacturing sector and has demonstrated an excellent track record of success,” said Innomotics CEO Michael Reichle. “Together, we are convinced of our sustainable success and the further development of our business, and we are equally impressed by the commitment and motivation of the global Innomotics team supporting our transformation.”
The partnership with KPS should allow Innomotics to continue its successful business development in the coming years. KPS has a strong track record of making manufacturing businesses better by structurally improving the strategic position, competitiveness and profitability of its portfolio companies.