BERLIN (dpa-AFX) - KPS Capital Partners, LP or KPS said on Thursday that
through a newly formed affiliate, it has inked a deal to acquire Innomotics GmbH
from Siemens AG (SIEGY.PK, SMAWF) for 3.5 billion euros. Innomotics is a wholly
owned subsidiary of Siemens.

The transaction is expected to be closed in the fourth-quarter of calendar 2024
or first-quarter of 2025.

Michael Psaros, Co-Founder of KPS, said: 'Innomotics is a global industry leader
in electric motors and large drives. In many ways, KPS is investing in the
future of the 21st Century through Innomotics. The company is well-positioned to
capitalize on the global megatrends of electrification, energy efficiency,
digitalization, urbanization and the commercialization of new energy resources
such as hydrogen.'

A debt financing has been provided by Barclays, Citibank, Goldman Sachs, Intesa
Sanpaolo, Morgan Stanley, MUFG Bank, Standard Chartered Bank, UBS, and
UniCredit.

Headquartered in Nuremberg, Germany, Innomotics is a supplier of
mission-critical electric motor, large drive systems, with a complete portfolio
of low voltage motors, high voltage motors, medium voltage drives and others.

Innomotics reports around 3.3 billion euros in annual revenue, with 16 factories
across the EMEA, Americas, and Asia-Pacific regions.



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