Knorr-Bremse Sells Kiepe Electric

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In a strategic move to refine its business focus, Knorr-Bremse has officially sold Kiepe Electric, a distinguished entity in electric vehicle equipment based in Düsseldorf, to Heramba GmbH. This transaction, finalized in late January 2024, marks a pivotal step in Knorr-Bremse’s ongoing efforts to streamline its operations and concentrate on its core competencies within the rail vehicle systems sector.

Dr. Nicolas Lange, a key member of the Knorr-Bremse AG Executive Board overseeing the Rail Vehicle Systems division, emphasized the decision’s rationale: “With its focus on electric vehicle equipment, Kiepe Electric has proved to be a dynamic, efficient business unit. Overall, however, only a small amount of synergy could be achieved between Kiepe Electric and the Rail Vehicle Systems division, which is why we made the decision to separate from Kiepe Electric. This process has now reached a successful and final conclusion following the sale. We thank all the Kiepe employees for their fantastic dedication and wish them all the best for their future under the new owner.”

Frank Markus Weber, the Chief Financial Officer at Knorr-Bremse AG, reflected on the portfolio optimization strategy: “The ongoing review of our business portfolio’s performance and its fit with our strategy is going successfully. With the sale of Kiepe Electric, we have now reached another important milestone, and Kiepe Electric will be able to focus clearly on its own strengths and business.”

Heramba GmbH, taking over Kiepe Electric, brings new potential for growth and specialization in the electric vehicle equipment sector. This acquisition encompasses all of Kiepe Electric’s operations and its workforce, signifying a new chapter under Berlin-based Heramba’s ownership. Notably, in October 2023, Heramba had announced a business combination with Project Energy Reimagined Acquisition Corporation (PERAC), aiming for a future listing on The Nasdaq Stock Market LLC.

This divestiture aligns with Knorr-Bremse’s BOOST program, a strategic initiative aimed at fostering sustainable and profitable growth through various strategic actions. Despite the sale, Knorr-Bremse will retain a 15 percent stake in Kiepe Electric, maintaining a vested interest in its future successes.

Kiepe Electric has been at the forefront of electrifying urban road and rail transportation, specializing in the development of power electronics, electric drives, and vehicle control systems for rail vehicles and electric buses. The company is renowned for its advanced fleet and energy management software solutions, along with being a leading provider of In-Motion Charging (IMC) technology and High Power Charging platforms for electric buses. With over 550 employees spread across six international locations, Kiepe Electric remains committed to advancing sustainable public transport solutions.