Flender

The Flender company founded more than 120 years ago with the headquarters in Bokholta (Germany) delivers mechanical and electrical drive systems, including reducers, couplings, generators and related services. In the company about 8600 people work worldwide, in 2020 financial year revenue of the company made about 2.2 billion euros.

History

Siemens sold Flender of Carlyle Group company for 2 billion euros

At the end of October, 2020 Siemens announced sale of the business on production of mechanical and electric actuators Flender of global investment company Carlyle Group. The cost of the transaction was 2.02 billion euros.

Sale of Flender will allow Siemens to take an important step to implementations of the strategy of Vision 2020+ directed to becoming more technology focused company. Carlyle expressed the intention to accelerate growth of Flender and to develop strengths of the company, having provided to business big independence and big freedom of action.

Carlyle Group purchased business on production of mechanical and electric actuators Flender

Our initial plan consisted in placing Flender on the stock exchange through backs-off, - the chief financial officer of Siemens Ralf Thomas who is also responsible for portfolio companies explains. - But we were always open also for alternative solutions. The interest shown by numerous investors clearly shows how attractive the company and as far as their intentions corresponds to approach to which we adhere concerning our portfolio companies is.

One of spheres in which Carlyle sees especially strong future for Flender is an Asian market of wind power.

We are inspired with a possibility of active development of wind power in China and across all Asia, - Janine Fan, the managing director of Carlyle Asia Partners notes. - We will rely on our local presence to help Flender to strengthen even more the competitiveness in the field of wind power and industrial equipment in the region and also to keep long-term development of wind power in Asia and around the world.[1]

Notes