Gleiss Lutz advises KPS Capital Partners on acquisition of Innomotics from Siemens

Gleiss Lutz has advised KPS Capital Partners, LP (“KPS”) on the acquisition of Innomotics GmbH (“Innomotics” or the “Company”) from the listed company Siemens AG. KPS announced today that, through a newly formed affiliate, it has signed a definitive agreement to acquire Innomotics from Siemens for an enterprise value of EUR 3.5 billion. Completion of the transaction is expected in calendar Q4 2024 or Q1 2025 and is subject to customary closing conditions and approvals.

Innomotics is a leading global supplier of mission-critical electric motor and large drive systems that optimize customers’ processes, uptime, efficiency and profitability. The Company manufactures a complete portfolio of low voltage motors, high voltage motors, medium voltage drives and other components, in addition to providing value-added customer services and solutions. Innomotics’ products and services are capable of addressing its customers’ most demanding requirements while enabling significant energy savings, decarbonization and sustainability. Headquartered in Nuremberg, Germany, Innomotics employs approximately 15,000 people and operates 16 factories across the EMEA, Americas, and Asia-Pacific regions.

KPS through its affiliated management entities, is the manager of the KPS Funds with approximately USD 21.4 billion of assets under management. The KPS Funds’ portfolio companies currently generate aggregate annual revenues of approximately USD 20.3 billion, operate 222 manufacturing facilities in 26 countries, and have approximately 48,000 employees, directly and through joint ventures worldwide (as of December 31, 2023).

In addition, a team of Paul Weiss, Rifkind, Wharton & Garrison LLP advised KPS on the acquisition. 

The following Gleiss Lutz team advised KPS: Dr. Jan Balssen (partner, Munich), Dr. Olaf Hohlefelder (both lead, partner, London), Dr. Christian Cascante (partner, Frankfurt), Florian Schorn (Munich), Dr. Micha Pfarr (counsel), Dr. Pirmin Schreiner (both Berlin), Dr. Daniel Heck (counsel, Hamburg), Dr. Adrian Schulz (Munich), Lukas Glocker, Julia Wohlmuth (both Frankfurt, all Corporate/M&A), Dr. Jacob von Andreae (partner), Vivien Etzkorn, Matthias Hahn (all Foreign Trade Law/Public Law, all Düsseldorf), Dr. Matthias Werner (partner), Dr. Felizitas Casper, Dr. Sebastian Girschick (all Munich), Christian Eulenpesch (Stuttgart), Viktoria Neubelt (all IP/Tech/Commercial, Berlin), Dr. Tim Weber (partner), Michael Clever, Konrad Discher (counsel), Maximilian Leisenheimer (all Frankfurt), Lesley Milde (Hamburg, all Real Estate), Dr. Iris Benedikt-Buckenleib (counsel, Munich), Dr. Laurette Muchow (Stuttgart), Antonia Harbusch (Düsseldorf), Dr. Andreas Robert Schüssel (Stuttgart, all Competition/Antitrust), Dr. Ulrich Soltész (partner), Dr. Harald Weiß (counsel), Kristina Winkelmann, Jessica Larkins (all State Aid, all Brussels), Dr. Ocka Stumm (partner), Dr. Dominik Monz, Dr. Johannes Heck (all Tax, all Frankfurt), Dr. Rut Steinhauser (partner), Josefine Chakrabarti (counsel, both Berlin), Stefan Schaaf (all Employment), Frank Schlobach (partner, Banking & Finance, both Frankfurt).

Gleiss Lutz teams have previously advised KPS on several occasions, including in connection with the EUR 2.25 billion acquisition of Crown Holdings Inc.'s Europe, Middle East and Africa food, aerosol and promotional packaging business.