Long-term commitments have been made for German employees and locations for the gear manufacturer with a plant in Penig.
Bocholt / Penig.
The Siemens group sold its subsidiary Flender to the American investment company Carlyle. According to Siemens, the selling price of the gear manufacturer with around 8,600 employees worldwide is 2,025 million euros. The Bocholt, North Rhine-Westphalia-based company, which the Siemens Group acquired in 2005, also has a plant in Penig (Central Saxony). Around 450 employees manufacture helical and helical bevel gears as well as planetary gears there. The Carlyle Group is an experienced industrial investor, currently managing around US $ 230 billion (about € 196 billion).
Siemens originally planned an initial public offering for Flender, but never ruled out a direct sale. “Quick decision provides security and planning clarity for customers and employees,” said Joe Kaeser, CEO of Siemens AG.
The interest of numerous investors in Flender clearly demonstrated the attractiveness of the company, “said Ralf P. Thomas, Siemens CFO.” The compelling business concept of the new owner gives Flender the necessary opportunity to optimize further in the future and meet customer needs. In the context of the sale, Carlyle made reliable long-term commitments to Flender and its employees, thereby highlighting the future direction planned for the company and recognition of Flender’s workforce, he said.
The Carlyle Group is a global investment manager with extensive industry experience investing private equity, including for large pension funds. Carlyle employs more than 1,800 people in 30 offices around the world. Flender is the world market leader in the wind and industrial gears sector and achieved sales of 2.2 billion euros in the last financial year.