Heramba GmbH and Heramba Holdings Inc. ("Heramba") announced that it has entered into a definitive agreement with subsidiaries of Knorr-Bremse Aktiengesellschaft to acquire Kiepe Electric, a company focused on decarbonization of commercial and public transportation.
Kiepe Electric is a global leader in the electrification of road and rail urban transportation applications, including designing, manufacturing and implementing power electronics products, electric drives and vehicle controls hardware and intelligent software for fleet management and energy management. The company's software provides a holistic end-to-end dashboard from the charging systems to the end-vehicle. Kiepe is also a specialist in vehicle charging solutions and is the leading supplier of In-Motion Charging solutions. In 2022, Kiepe introduced its proprietary High Power Charging platform, which facilitates vehicle fast charging and energy management for battery-electric buses.
"The acquisition of Kiepe Electric is an exciting step forward for our team," said Dr. Hans-Jörg Grundmann, Managing Director of Heramba. "Since its foundation, Kiepe has demonstrated a long history of evolving its business to deliver innovative solutions. With a focus on enabling sustainable mass transit, a portfolio of high-quality products and services, long-standing partnerships with leading global customers and an attractive backlog, we believe Kiepe is in a position to become a leader in commercial electrification."
Transaction Rationale:
Creates a unique pure-play global leader in sustainable urban transportation
Further accelerates the expansion of urban transportation addressable market globally
Adoption of an asset-light business strategy with marquee customers across rail & road in the U.S. & Europe
Led by a seasoned and experienced leadership team
Kiepe Electric has grown into a global leader in sustainable transit, with over 580 employees operating in six countries around the world. In 2022, Kiepe Electric had revenues in excess of $120 million. Heramba's acquisition of Kiepe Electric is expected to close in the second half of 2023, subject to customary closing conditions.
