KPS Capital Partners LP has agreed to purchase Innomotics GmbH from Siemens AG for €3.5 billion (approximately $3.8 billion).

Innomotics is a supplier of electric motor and large drive systems that aim to optimize customers’ processes, uptime, efficiency and profitability. The company manufactures a portfolio of low voltage motors, high voltage motors, medium voltage drives and other parts, in addition to providing customer services. Innomotics serves technical end-markets.

“The acquisition of Innomotics is another demonstration of the power of the KPS platform in Europe,” says Michael Psaros, co-founder and co-managing partner of KPS. “Since 2020, KPS has acquired or committed to acquire 17 businesses for an aggregate value exceeding $11.5 billion from leading corporate sellers in Germany, Belgium, Italy, Ireland, Norway, Switzerland and the United Kingdom.”

Paul Weiss, Rifkind, Wharton & Garrison LLP and Gleiss Lutz served as legal counsel and Bank of America and Lazard served as financial advisors to KPS. Committed debt financing to support the transaction has been provided by Barclays, Citibank, Goldman Sachs, Intesa Sanpaolo, Morgan Stanley, MUFG Bank, Standard Chartered Bank, UBS and UniCredit.