KPS Capital Partners
Assembly Line
KPS Capital Partners Completes Acquisition of Innomotics from Siemens AG
Siemens AG has successfully closed the sale of Innomotics to KPS Capital Partners, LP (“KPS”) for €3.5 billion (enterprise value). On May 16, 2024, Siemens had announced plans to sell this world-leading supplier of electric motors and large-drive systems to KPS.
KPS Capital Partners to Sell Eviosys to Sonoco
KPS Capital Partners, LP announced that it has entered into an agreement for its portfolio company, Eviosys to be sold to Sonoco Products Company, a Hartsville, South Carolina-based global leader in high-value sustainable packaging, for €3.615 billion (or approximately $3.9 billion). Sonoco has the option, under certain circumstances, to pay up to $200 million of the purchase consideration in the form of Sonoco stock. The transaction is expected to close by the end of 2024, and is subject to completion of required works council consultations and the receipt of required regulatory approvals and other customary closing conditions.
Eviosys is a leading global supplier of metal packaging, producing food cans and ends, aerosol cans, metal closures and promotional packaging to preserve the products of hundreds of consumer brands. Eviosys has the largest metal food can manufacturing footprint in the EMEA region, with over 6,300 employees in 44 manufacturing facilities across 17 countries in Europe, the Middle East and Africa. Eviosys is a global leader in sustainability, with a product portfolio comprised entirely of infinitely recyclable metal packaging and industry-leading performance across a broad spectrum of sustainability metrics.